Posted 8th Nov 2017

Private equity firm backs MBO of Moores Furniture Group

By KBBDaily on 8th November 2017 - 14:53pm

Private equity firm Hilco Capital has backed the management buyout – led by CEO Steve Parkin, pictured – of West Yorkshire-based Moores Furniture Group from Masco Corporation, which acquired the kitchen and bathroom furniture manufacturer in 1996.

According to Moores, it will be “business as usual” at its Wetherby manufacturing facility following the acquisition, which will see Hilco Capital support the management team to grow the business. Moores added that it has already “built a strong client base over the years”.

“It is our objective to continue to develop enduring partnerships with our suppliers and customers and further enhance our industry leading client service proposition,” said Parkin. “The business has been transformed. We have a strong management team, a clear focus, robust processes, new and contemporary products and a best in class customer service.

“We have already seen our orderbook growing with our key customers because of this investment and we expect this to continue as we go forwards,” Parkin added. “We would like to thank Masco Corporation for its support since 1996 and in helping us identify the right investment partner as we look toward the future.”

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