Member Article

Yorkshire’s Just Trays in multi-million secondary MBO

Leeds-based Just Trays has been involved in a multi-million pound investment from Maven Capital Partners to back the management team in its acquisition of the business from Gresham Private Equity.

JT was established in 1988 and has since grown to become the UK’s leading manufacturer of shower trays and related accessories, with all product design, development and production undertaken at its main facility in Leeds.

The business sells its range of products direct to trade partners in the construction and housing market and now accounts for around 28% of the UK market.

Under the current management team, which previously led a MBO backed by Gresham and RBS in 2006, the business has demonstrated its resilience within a market impacted directly by the UK recession.

The investment from Maven will help JT to implement its growth strategy, which is focussed on increasing sales through export markets as well as developing new routes to market and expanding its current product range.

Ryan Bevington, investment director at Maven, said: “Just Trays is a great UK manufacturing business which received financial backing before the recession, but saw its core market decline from 2008 as the recession impacted the housing and construction markets.

“It is a credit to the management team that the business has remained profitable and cash generative throughout this period and we believe it is now well placed to capitalise on its position as the UK’s leading shower tray brand.

“The management team led by Paul Crossley is excited about the future and we look forward to helping them achieve their goals.”

Paul Crossley, managing director at Just Trays added: “The timing was right for everyone concerned for JT to find a financial partner to back us on the next stage of our growth strategy, as we look at new routes to market, overseas expansion and bolt-on acquisitions.

“We are delighted to have found a financial partner in Maven who understand our ambitions and are supportive of UK manufacturing businesses. The Maven team is local and it was important that we find a partner both accessible and with experience of helping growth businesses.”

This was posted in Bdaily's Members' News section by Clare Burnett .