Chandos Fund
Harvey Jones Limited
| Website | www.harveyjones.com |
|---|---|
| Retailer | Fitted Kitchens |
| MBO | Not disclosed |
| Status | Current portfolio investment |
| Location | London |
Harvey Jones is a long established business with a strong reputation for the quality of its manufacturing and providing real value for money. The business manufactures most of the kitchens and furniture in its own joinery in Wisbech and sells through 10 retail stores in London and provincial towns. Sales have been growing well, with like for like sales up 7% pa over the last three years. With a proven formula for expansion, there is now a good opportunity to double the number of stores over the next three years. Bristol and Bath could be the first of the new locations.
Chandos has introduced Graham Brown as chairman of the MBO. He has extensive experience of retail roll outs over many years including Ritz Video, Texas Homecare and Go Outdoors.
Paul Cannings, Director of the Chandos Fund commented "We are delighted to have made our first investment from the Chandos Fund so soon after our first close. This is an excellent opportunity to buy into a quality business with an established management team. The business has an excellent integrated retail model and the management team have a clear strategy to develop the business. We look forward to sharing in their success.”
John Curwen, Managing Director of Harvey Jones said “This is an exciting time for the Company and we have ambitious growth and development plans. YFM has been supportive and straightforward through the buyout process and are an ideal partner for us as we grow.”
