TWO York businessmen have bought the modular bathroom manufacturer which supplied bathrooms to the Olympic Village.
Mike Hampton and Andrew Forshaw said they intended to create a group of modular building companies after buying Badekabiner from construction group Galliford Try, which bought it out of the administration last year of Danish group EJ Badekabiner.
Andrew Forshaw, commercial director, said: “With the completion of the acquisition, Badekabiner is now well positioned to re-establish itself as the UK’s number-one bathroom pod manufacturer.”
Dickinson Dees and PKF Corporate Finance advised on the deal, financed by Lloyds TSB Commercial Finance.
Galliford Try plc has retained a 25 per cent stake in the holding company set up by Mr Hampton and Mr Forshaw to buy the Badekabiner business.
Alistair Scott-Somers, a director at Dickinson Dees in York, said: “This was an excellent deal, which gives Badekabiner an exciting and bright future following difficult times during the downturn and Galliford Try’s continued stake in the business will hopefully reinforce the business’s prospects.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here