Case studies
Commercial Finance funds acquisition of leading shower tray manufacturer
Asset backed lending specialist Lloyds TSB Commercial Finance has funded Halifax-based Aquarius Bathrooms' multi-million pound acquisition of D&T Render Shower Trays Ltd in South Kirkby, one of the United Kingdom's leading shower tray manufacturers.
D&S Baths Ltd, trading as Aquarius Bathrooms has been one of the leading independent brands of acrylic baths in the UK for over 20 years, with a reputation built on quality and service.
The addition of the successful Render shower tray business greatly strengthens Aquarius as a key supplier to bathroom distributors and merchants in the UK, and is a natural fit with the Aquarius bath business.
Peter Scaife at the Leeds office of Lloyds TSB Commercial Finance provided an asset-backed lending facility to support the deal. Steve Jowers at Lloyds TSB Corporate Markets provided a structured loan facility.
Aquarius Chairman Peter Dumigan, said: "These two businesses, operating in the same marketplace, are extremely complimentary, extending the corporate portfolio and providing access to each other's customer base.
"We anticipate retaining the 54 staff at D&T Render and the 30 Aquarius Bathroom's personnel as the combined turnover of the businesses, currently in excess of £6m, grows. "
The deal was negotiated by specialist commercial law firm Schofield Sweeney.
