Clarion has advised Primeur, a Bingley-based supplier of doormats and recycled garden products, on a management buy-out (MBO) that will see the third generation of the family, along with one of its long-serving directors, taking the reins.
Caitlin Hare and Sarah Harrison from Leeds-based Clarion provided legal advice to Primeur, while Neil Sengupta from TC Murray Harcourt advised on the tax implications of the MBO.
The MBO includes former sales director Jenny Douthwaite, who becomes managing director after more than 19 years in the business, supported by buying director Rebecca Keighley and her brother, fellow director Edward Keighley.
Former shareholders James Keighley and Ian Brazier will continue in their roles of chair and finance director, respectively, as part of a phased retirement plan.
Founded in 1968 by James Keighley’s uncle, David Clayton, Primeur has become a market leader of domestic doormats in the UK, supplying most of the major retailers while its recycled garden products division has seen significant growth and also serves many independent garden centres.
In addition to its head office and a 50,000 sqft warehouse in Bingley, the company has recently invested in additional warehousing in Skipton to provide extra capacity for the garden products division. Primeur has grown to a 70-strong team.
Brazier (pictured, right) commented: “The MBO will enable a seamless transition with James and I on hand to mentor and support the new team in order to provide continuity for our loyal customers, suppliers and colleagues.”