UK - Hotbed members invest £3.3m to back buyout of DIY supplier
Hotbed, a UK private investor syndicate, has invested £3.3m to back the management buyout of Avocet Hardware. Avocet is a supplier of screws, nails, fixings and general ironmongery products to the UK’s biggest DIY retailers, including B&Q, Focus and Wickes. Hotbed owns a 40% stake in the newco. The deal was supported by banking facilities and working capital provided by Landsbanki Commercial Finance.
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