Castle Corporate Finance is pleased to announce its fifth deal of 2019: the management buyout of Tunbridge Wells headquartered Ken Lamacraft Marketing Limited (“KLM”), a company specialising in beauty products for the salon and retail sectors of the cosmetics market in the UK and Ireland. Key markets for the business are major TV shopping channels, professional therapists, salons and spas, and online and high street retailers.
The transaction sees Fiona Peerless and Kevin Gambrill of Australian Bodycare UK Limited acquire 100% of the shares for an undisclosed sum. Both have vast experience of the company, ensuring a smooth transaction.
Castle introduced Arbuthnot Commercial Asset Based Lending Limited, who provided an asset-based lending facility to support the MBO.
Kevin Gambrill, new Joint Managing Director of KLM, comments: “Fiona and I are excited at the opportunity of taking the enterprise forward into new areas with fresh ideas and a clear focus. Castle Corporate Finance showed great professionalism and were instrumental in getting this transaction to completion. They were a pleasure to work alongside.”
Stuart Stepney, Managing Director of Castle continues: “This deal was a great example of the buy side team working together to facilitate the opportunity for long standing employees, Kevin and Fiona, to buy out retiring founders and take the business to the next level. We wish Kevin and Fiona all the very best for the next exciting stage.”