PHD Equity Partners invests in Olympic Fixings

The investment will be the second for PHD Equity Partners' Fund No 2 after its £2.5m expansion investment in travel firm First Class Holidays in December 2015. The fund held a £20m final close in May 2015.

PHD plans to grow Olympic Fixings both organically and through acquisitions. The funding will be used to grow the company's online presence and develop its European client base.

Managing director Cliff Yates and finance director George Brookes wil stay on at the company, but a number of appointments will be added to the management team to facilitate their eventual retirement.

PHD is the private equity arm of advisory firm Dow Schofield Watts.

Company
Founded in 1989, Olympic Fixings' main area of business is the distribution of fixing products to the wholesale trade. The business employs 60 people across its two sites in Altham, Lancashire and Bangor, Northern Ireland. The firm has a range of 3,300 products and has a turnover just shy of £10m.

People
PHD Equity Partners – Andy Dodd, Craig Richardson (partners).
Olympic Fixings Group – Cliff Yates (managing director); George Brookes (finance director).

Advisers
Equity – Dow Schofield Watts, Catriona Lang, Nick Woodward, Paul Rimmer, Rosie Spencer, Will Munday (legal, tax).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• Dow Schofield Watts