NorthEdge backs TKC MBO

NorthEdge has acquired a majority stake in TKC, in a deal that saw founder Tom Kelly and director Hayley Kelly exit the business.

The GP invested via its maiden £225m fund, marking its 13th transaction.

Company
Founded in 1989, Denton-based TKC supplies kitchen and bedroom doors to kitchen retailers, kitchen manufacturers and local installers. The bulk of its products are sourced in Italy. The company employs 128 people and in the year to September 2015 it generated turnover of £19m.

People
Chris Hazelhurst is commercial director at TKC, Paul Arrowsmith is finance director, Dave Grayson is operations director and Brain Wade is supply chain director.

Partner Ray Stenton, investment manager Phil Frame and investment executive Harry Jones led the deal for NorthEdge.

Advisers
Equity - Deloitte, Paul Trickett, Anil Gupta (Corporate finance, debt advisory); DSW, Nicola Merritt (Financial due diligence); PMSI, David Crout (Commercial due diligence); Shoosmiths, Kieran Toal (Legal); PwC (Tax); Vista Insurance (Insurance); Intuitus (IT due diligence); Quinn Partnership (Management due diligence).
Debt - Addleshaw Goddard (Legal).
Vendor - Convex Capital (Corporate finance); Ward Hadaway (Legal); CLB Coopers (Tax).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• NorthEdge Capital