Harvey Jones achieves exit for YFM in secondary buyout backed by Allied Irish Bank (GB)

Posted on 21 Aug 2017

Funds advised and managed by YFM Equity Partners (YFM) backed the buyout of the premium kitchen manufacturer and retailer, Harvey Jones, from the original founder, when there were just 10 showrooms primarily based in the Home Counties.  During the time YFM funds have been invested, the business has been transformed with a significant investment in people, marketing, product development and 21 new showrooms. 

The management team has ambitious plans to expand still further with a refurbishment and store opening plan using the additional funding from Allied Irish Bank (GB). John Curwen, CEO at Harvey Jones, said “We have enjoyed working with YFM and appreciated their support as an investor both through the economic downturn and in supporting the showroom rollout programme to date. The new funding obtained from Allied Irish Bank (GB) will help us to continue expanding the reach of the Harvey Jones brand as the premium, UK, handmade quality product.”

Commenting on the investment for YFM, Paul Cannings, Director of YFM Equity Partners, said “We are pleased to have supported the growth of a quality UK brand such as Harvey Jones and to have been a supportive partner through tough periods such as the credit crunch seen several years ago.  We wish the team continued success as they move into the next phase of ownership and growth.”

Mike Rogers, Senior Relationship Manager of Allied Irish Bank (GB), said “We have been impressed with the way the team has grown the business to date and the quality of the product offering.  We look forward to supporting their continued growth plans over the coming years.”

Ends

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For further information about YFM Equity Partners please contact:

Cat Ommanney on 0207 280 0644 or [email protected]

Matthew Longbottom on 0207 280 0650 or [email protected]

For further information about Allied Irish Bank (GB) please contact:

Caroline Marsden C&J Media on behalf of Allied Irish Bank (GB)

Tel: 07720 849189 Email: [email protected]

 

Notes to editors:

About YFM Equity Partners                                               

YFM Equity Partners are specialist, independently owned, private equity investors.  With over 30 years of experience we seek to unlock value and growth potential by providing up to £10 million of equity to fuel the development of established business throughout the UK regions.  We do this by helping our portfolio companies grow niche businesses, launch new initiatives, make transformative acquisitions and upgrade technologies and systems.  Through our offices in Leeds, London, Manchester, Birmingham and Sheffield, we are dedicated to working alongside management teams to create long-term value for our investors, the companies we invest in and a positive economic impact for the communities in which we work.  We manage and advise funds in excess of £200 million which include venture capital trusts and private equity funds. 

YFM Equity Partners conducts its investment business through its subsidiary YFM Private Equity Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 122120).

For more information, please visit www.yfmep.com or follow us on Twitter @YFMEP

About Allied Irish Bank (GB)

Allied Irish Bank (GB) is a niche, sector focused business bank which specialises in delivering relationship driven service to medium to large sized businesses . It operates from 16 locations in major business centres across Great Britain, employing over 600 staff.

Allied Irish Bank (GB) has been supporting businesses in Britain with true relationship driven service for over 40 years. During this time, the Bank has grown organically with more than half of new business coming from existing customer recommendations.

Allied Irish Bank (GB) was awarded ‘Best Service from a Business Bank’ at Business Moneyfacts Awards in 2014, 2015 and 2016.

The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trade marks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland.  Registered Office 92 Ann Street, Belfast BT1 3HH.  Registered Number NI018800.  Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

For further information on Allied Irish Bank (GB), visit www.aibgb.co.uk