Maven buys Just Trays from Gresham

The multi-million pound investment will be used to increase sales in export markets, develop new routes to market and expand Just Tray's current product range. The company will also look to expand internationally and via acquisitions.

According to Maven, the business remained profitable despite seeing a decline in its core market during the recession.

Previous funding
According to unquote" data, Gresham backed the MBO of the business in July 2006, using capital from its Gresham III fund. Gresham took a 69% stake in the company with the management team taking the remainder. RBS provided a senior debt package to support the transaction.

Company
Founded in 1988, the Leeds-based company sells its range of shower trays and related accessories to trade partners in the construction and housing market. More than 70 staff design, develop and produce the company's products at its Yorkshire headquarters.

People
Ryan Bevington is investment director at Maven. Paul Crossley is managing director at Just Trays.

Advisers
Equity – Pinsent Masons, Peter Wood, Louise Blair (Legal); Mazars (Financial due diligence, tax).
Management – BHP Corporate Finance, Hamish Morrison, Matt Scott (Corporate finance); Clarion, Richard Moran, Rachel Dean (Legal).

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• Topics
• UK / Ireland
• Consumer
• Buyouts
• United Kingdom
• Gresham Private Equity
• Maven Capital Partners