Management buyout led by CEO Steve Parkin
Moores Furniture Group has announced Hilco Capital has backed the company’s existing management team, led by CEO Steve Parkin, to acquire the business from Masco Corporation.
The 70-year old kitchen, bedroom and bathroom business will remain at its Wetherby site, where it manufactures the furniture, including a kitchen range for the Michel Roux Jnr brand.
CEO of Moores Furniture Group Steve Parkin commented: “It is our objective to continue to develop enduring partnership with our suppliers and customers and further enhance our industry-leading client service proposition.”
He continued: “The business has been transformed. We have a strong management team, a clear focus, robust processes, new and contemporary products and a best in class customer service. We have already seen our order book growing with our key customers because of this investment and we expect this to continue as we go forwards.
“We would like to thank Masco Corporation for its support since 1996 and in helping us identify the right investment partner as we look towards the future.”