Multi-million pound buy out of online gardens business
Gardening and landscape firm the Euxton Group is at the centre of a Â£2.75m investment.
The money has been ploughed in as part of a buy-in management buyout by the Foresight Regional Investment Fund.A buy-in management buyout happens when the team buying out a company is a combination of existing managers, who retain a stake in the business, and individuals from outside the company who join the management team.Euxton Group, a market leading e-commerce business in the gardening and landscaping sector, based in Dawbers Lane, Euxton, has achieved annual sales growth of more than 30 per cent over the past three years.The group encompasses three companies; Hedges Direct, Best4Hedging and Impact Plants, all focused on various horticultural niches, in particular hedging. The group has seen an increase in both the number of orders and the average order value year-on-year. Foresight’s 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.The deal is the first investment to be completed from Foresight, a dedicated regional fund focused on private equity investments into SMEs based in the north west of England, north Wales, and south Yorkshire. Michael McVey, managing director, 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.”