YFM divests Harvey Jones to AIB

The deal generated a return of around 2x money for YFM after a 10-year holding period.

Under the GP's tenure, the business invested in new showrooms across the UK, increasing its estate from 10 showrooms primarily based in the south of England and home counties, to 31 nationwide.

Following the acquisition by AIB, Harvey Jones will continue to pursue its national expansion strategy.

Previous funding
YFM invested £3.5m to support the management buyout of Harvey Jones in May 2007. The deal gave the business an enterprise value of £7.5m, according to unquote" data.

Company
Founded in 1980 and headquartered in London, Harvey Jones is a designer and retailer of fitted kitchens. According to publicly available documents, the business generated a turnover of £21.1m in 2016, up from £8m at the time of YFM's initial investment, with an operating profit of £287,000.

People
YFM Equity Partners – Paul Cannings (director).
Harvey Jones – John Curwen (CEO).

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• Exits
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