Freeths Leeds Corporate Partner, Andy Francey, has supported Yorkshire-based investment firm, Growth Partner, in the acquisition of a multi-million-pound stake in Yorkshire’s rapidly expanding bathroom and tile specialist, Cubico Group.
Growth Partner, which is backed by HomeServe plc founder and CEO Richard Harpin, has made the investment to acquire a significant minority stake in the company, which is the UK’s market leading bathroom and tile product specialist. Operating via its trade-facing brand, Cubico Bathrooms, and its consumer facing brand, Easy Bathrooms, Cubico has a rapidly expanding national footprint of 65 showroom and trade counter stores, alongside its wholesale and growing e-commerce channels.
Cubico Group is a real success story in a difficult year as sales are in excess of £45 million and the firm employs over 400 people. In the last 12 months alone, the business has opened 23 new showrooms – including 16 since the onset of the Covid-19 pandemic in March.
Freeths Corporate Partner, Andy Francey, said, “We are delighted to have advised on this major deal for Growth Partner. This deal proves that there are still investment opportunities out there for robust businesses”.