H.I.G. Capital’s Highbourne Group Completes Acquisition of Plumbworld
H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $48 billion of equity capital under management, announced today that its affiliated portfolio company, Highbourne Group Limited (“Highbourne”), has completed the acquisition of Plumbworld Limited (“Plumbworld”), one of the UK’s leading e-commerce specialists for bathroom, kitchen, plumbing and heating products.
The combination with Plumbworld will strengthen Highbourne’s leading omni-channel capabilities for both trade and retail customers. Plumbworld’s proposition is highly complementary to Highbourne and will enable the group to expand its footprint in the UK and Ireland, while maintaining its commitment to providing the highest quality services and convenience to its customers.
Dave Evans, CEO of Highbourne commented: “We are delighted to welcome Plumbworld into the Highbourne Group and see the business as highly complementary to our existing customer propositions. James Hickman and his management team have built a leading e-commerce platform and I look forward to working with them to accelerate their growth initiatives.”
James Hickman, CEO and founder of Plumbworld, added: “The integration of Plumbworld into the Highbourne Group is an exciting new chapter for our business. Dave and the team at Highbourne are creating real momentum in the market and I see enormous potential for Plumbworld as part of that growth plan.”
“We are very excited about the combination and look forward to partnering with James Hickman and his team,” said Tobias Borkowski, Principal at H.I.G. “This is a transformational step in Highbourne’s digital strategy and will offer attractive opportunities to expand relationships with its suppliers and customers.”
About Highbourne Group
Highbourne Group is one of the UK’s leading specialist distributors of plumbing, heating, and bathroom products. Highbourne operates under its primary trading brands City Plumbing Supplies (CPS) and Plumbing Trade Supplies (PTS), alongside several specialist online outlets with diverse product offerings. The Company operates a network of ~350 branches across the UK and Ireland with products mainly sold to trade customers, including local installers and larger contract accounts, through a multi-channel offering (retail pick-up through showrooms or trade counters, click & collect, delivery), as well as to a lesser extent directly to consumers. For more information visit: https://www.cityplumbing.co.uk.
Plumbworld is one of the UK’s leading online retail platforms for bathroom, kitchen, plumbing and heating products at affordable prices to consumers and trade customers. Founded in 1999 and headquartered in Evesham, England, Plumbworld has over 160 employees which have served over 1.7m customers since inception. For more information visit: https://www.plumbworld.co.uk.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $48 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
10 Grosvenor Street
London W1K 4QB
P +44 (0) 207 318 5700
F +44 (0) 207 318 5749
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SCREEN Increases Efforts to Reduce the Environmental Impact of the Semiconductor Industry26.5.2022 07:30:00 EEST | Press release
SCREEN Semiconductor Solutions Co., Ltd. (SCREEN SPE), a subsidiary of SCREEN Holdings Co., Ltd., has announced it will increase its efforts to reduce the company’s environmental overall impact. The SCREEN Group is committed to both achieving a sustainable global society and to improving its sustainable value (social value) and has formulated a medium-term management plan titled Sustainable Value 2023 targeting these goals. The plan identifies specific issues in each of the environmental, social, and governance (ESG) fields. Concerning the environment, SCREEN is working to provide products and services that actively contribute to the reduction of ecological burden. Its efforts include improving the environmental performance of its products, reducing the effects of its business activities on climate change, promoting effective utilization of water resources, increasing recycling of products and parts, and helping to preserve biodiversity. Concretely, SCREEN SPE seeks to reduce the impac
Lenovo Group: Full Year Financial Results 2021/2226.5.2022 07:19:00 EEST | Press release
Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced record fiscal year results for the Group, with historic highs for both profit and revenue. Annual net income reached the US$2 billion mark, up 72% year on year, with revenue growing by US$10 billion for the second year running to over US$71 billion. All main business groups were profitable for the full fiscal year - with strong growth momentum in mobile, infrastructure, and solutions and services businesses. Lenovo successfully overcame macro-environmental challenges and demonstrated both agility and resilience as it navigated industry-wide supply shortages, pandemic disruption, geopolitical uncertainties, and higher inflation to deliver a record year. The digital and intelligent transformation trend continues to accelerate, presenting the Group with strong growth opportunities. More than 50% of companies now have digitalization as part of their corporate strategy, up from just over one third two years ago. The hybrid work model is
Exscientia Business Update for First Quarter 202225.5.2022 23:01:00 EEST | Press release
Exscientia plc (Nasdaq: EXAI) This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220525005906/en/ Recent advancements in the Company’s pipeline, collaborations, and operations, as well as financial results for the first quarter 2022, are summarised below. In addition, Exscientia will host a conference call Thursday, May 26 at 1:30 p.m. BST / 8:30 a.m. ET to provide an overview of the Company's precision medicine platform. "We started 2022 by commencing a groundbreaking collaboration with Sanofi to develop a pipeline of AI-designed medicines utilising the breadth of our end-to-end platform of AI-driven capabilities from target prioritisation, to drug engineering and patient selection. At this year's American Association of Cancer Research (AACR) Annual Meeting, we highlighted our advancements in this area, including how AI-enabled drug design can help create drug candidates for challenging targets in oncology. In addition, we sho
ArborXR Announces Strategic Collaboration with Qualcomm Technologies, Helping Companies Scale VR and AR Deployments25.5.2022 20:37:00 EEST | Press release
ArborXR announced today the company will work with Qualcomm Technologies, Inc. on an extended reality (XR) mobile device management (MDM) platform to make it easier for companies to scale virtual reality (VR) and augmented (AR) headset deployments. By working closely with original equipment manufacturer (OEM) partners and direct enterprise clients, ArborXR and Qualcomm Technologies have identified key problems that still exist in scaling a fleet of XR headsets. Companies today looking to deploy a fleet of VR or AR devices face many challenges enrolling and provisioning headsets, managing them remotely, installing apps and updates, and controlling the user experience. To solve these problems, ArborXR will provide device management software to Qualcomm Technologies’ XR customers and OEMs with large-scale deployments for use with Qualcomm Technologies’ cutting edge VR/AR hardware available. OEMs will be able to pre-install ArborXR, and ArborXR’s software will support new VR and AR referen
L&T Technology Services inaugurates Engineering R&D Centre in Poland to provide Embedded and Digital Solutions to Clients25.5.2022 20:05:00 EEST | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leading pure-play engineering services company, today inaugurated its Engineering, Research and Development (ER&D) centre in Krakow, Poland, which will cater to global customers, leveraging cutting edge technologies in the Automotive, Mobility and Hi-Tech domains. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220525005835/en/ Seen in the picture (from right to left): Jagyan Mishra, Delivery Head (Europe) at LTTS, Abhishek Sinha, Chief Operating Officer and Member of the Board at LTTS, Mr. Jerzy Muzyk, Deputy Mayor of the City of Krakow, Her Excellency Nagma Mohamed Mallick, Ambassador of India to the Republic of Poland, Mr. Lukasz Słoniowski, President of the Board at Investor Support Krakow and Rajkumar Ravindranathan, Chief Business Officer at LTTS, during the inauguration of the ER&D centre. (Photo: Business Wire) The state-of-the-art centre will mark its
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom