Shower tray manufacturer Just Trays has completed a management buyout backed by a multi-million pound investment from private equity firm Maven Capital Partners.
Leeds-based Just Trays is the UK’s leading manufacturer of shower trays and related accessories. All of its product design, development and production is carried out at its main facility in Leeds.
The business sells products direct to trade partners in the construction and housing market and it has around 28 per cent of the UK shower trays market.
Under the current management team, which previously led an MBO backed by Gresham and RBS in 2006, the business has maintained profits.
The firm said it is well placed to benefit from the improving economy and housing market.
Paul Crossley, managing director of Just Trays, said: “The timing was right for everyone concerned for Just Trays 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.”
Ryan Bevington, investment director at Maven, said: “Just Trays is a great UK manufacturing business which 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.”