Euxton Group undergoes £2.75m takeover

Euxton Group undergoes £2.75m takeover

Lancashire-based Euxton Group Limited has undergone a £2.75m Buy-in Management Buyout (BIMBO).

Euxton, a leading e-commerce business in the gardening and landscaping sector, has grown rapidly over the last three years, having achieved annual sales growth of over 30%. 

The group encompasses three companies; Hedges Direct, Best4Hedging and Impact Plants, all focused on various horticultural niches, in particular hedging.

It has also seen a significant increase in both the number of orders and the average order value  year-on-year and is well positioned in a substantial market where online product sales are growing rapidly.

The company is now eyeing further success after undergoing a Buy-in Management Buyout (BIMBO). The BIMBO was supported by a £2.75m investment from the Foresight Group as part of the Foresight Regional Investment Fund (FRIF), which was launched in December.

The investment will allow the group to further drive sales and capitalise on the increasing prevalence of ecommerce.

Michael McVey will join as managing director, working alongside the existing team of Jamie Shipley, Kathryn Gallagher and Paul Francis.

Claire Alvarez, who led the transaction out of Foresight’s Manchester office, will also join the Euxton board.

Michael McVey, managing director at Euxton Group, said: “We are excited to be working with Foresight to help Lancashire-based Euxton Group continue its growth in the landscaping and gardening market.

“With the support of Foresight we will continue to develop the Group through improvements to our websites, adding additional product ranges and expansion into overseas markets.”

James Livingston, a partner at Foresight, added: “As the first deal for the Foresight Regional Investment Fund, we are extremely pleased to have invested in Euxton Group.

“The business is a leader in its target market, and we look forward to working with the management team to create further value within the business and continue growth.”

 

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