Plumbworld Completes MBO
Online Home Retail Limited, an online bathroom products retailer, has completed a successful MBO. A team led by an original founder of the business, James Hickman, bought back the company from Grafton Group plc, a listed builders' merchant. Online Home Retail Limited, trading as www.plumbworld.co.uk, offers quality bathroom products at affordable prices to the trade and public. Since its founding in 1999, the business has served over 1.5m customers, generating over £26m in annual revenue according to its latest published financial statements.
James Hickman, Managing Director, said “The E-commerce consumer market is very fast moving and intensely competitive. It requires quick decision making, calculated risk taking and a ruthless focus on eliminating avoidable costs. We believe being independent will offer us greater agility and enable us to focus 100 per cent of our efforts on delivering growth and improving profitability”