INDUSTRY
With a turnover run rate of circa £30 million, Kingswood, through its brands including Willowbrook and Assistive Bathing, is a leading UK manufacturer and direct-to-consumer seller of adjustable beds and chairs, bath-lifts and fitted bathrooms designed to aid those with mobility difficulties in their own homes.
Shareholders Nick Adcock and Malcolm Harrison had limited operational involvement in Kingswood and were looking to realise their investment. Having secured interest and indicative offers from multiple parties, Avondale invited the preferred bidders to meet management and tour the manufacturing facilities.
After further negotiations, a management buyout led by Managing Director Jeremy Rolph and backed by LDC, emerged as the favoured option for Nick & Malcolm. Nick and Malcolm have retained a small shareholding and hope to benefit from the future growth of Kingswood.
“Whilst we were very experienced businessmen, we had no experience of selling a successful company. It quickly became apparent that Avondale’s reach in the business world and their high level of competency managing the transaction were crucial to us achieving a successful exit from the business.”
Nick Adcock – Kingswood Group
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