Plumbworld completes MBO
Online Home Retail, the online bathroom products retailer trading as Plumbworld, has completed a successful MBO.
A team led by James Hickman (pictured), an original founder of Plumbworld, has acquired the business from builders’ merchant Grafton Group.
Founded in 1999, Plumbworld has served over 1.5 million customers and generates over £26 million in annual sales.
Hickman, who is managing director of the business, said the independence will enable it to take advantage of new opportunities in the online bathroom marketplace.
He added: “The ecommerce consumer market is very fast moving and intensely competitive. It requires quick decision making, calculated risk taking and a ruthless focus on eliminating avoidable costs. We believe being independent will offer us greater agility and enable us to focus 100% of our efforts on delivering growth and improving profitability.”
