Construction Materials Online secures £8.65 million MBO funding
Key Capital Partners (KCP) has acquired a majority stake in online building materials business Construction Materials Online (CMO). The B2B merchant operates three separate websites and targets small building contractors as well as serious DIY builders. The business generates c£25 million annual sales and employs a team of 40 people at its Plymouth facility.
The deal will see KCP's Mike Fell and Philip Duquenoy join the board of CMO alongside its operations director Callum Tasker, technical director Chris Dorey, eCommerce director Adrian Saunders and marketing director Liz Orgill. As part of the MBO, former Gear4Music chairman Dean Murray will also join the board of CMO to lead the business through its next stage of growth.
Dean Murray commented "KCP has a strong track record in growing online businesses in niche areas and CMO needed a partner able to provide the capital, expertise and experience to take a successful eCommerce business to the next stage of its development, just as KCP has done so successfully with previous investments such as Gear4Music."