Management team acquires Hull business with Barclays funding

East Yorkshire-based business Cleaning and Paper Disposables has announced a management buyout, supported by funding from Barclays.

Now under the new trading name of CPD Direct, the business is a supplier of cleaning, catering and hygiene supplies.

Headquartered in Hull, CPD Direct supplies over 4000 products to over 1000 customers across the UK and continental Europe.

Today, the business employs 60 people at its head office with turnover for 2016 expected to be in excess of £25m.

The new management team consists of Kirstie Lloyd, Ian Warvill and Tony Bennett who have worked closely together over the last four years.

A collective statement from the new team said: “We are both delighted and proud to have the opportunity to lead CPD Direct in the next chapter of its history.

“The people in the business have built an excellent reputation for the CPD brand over the last three decades by consistently delivering excellent customer service and expanding the range of products and services available to our valued customers. This will continue to be an integral part of our growth plans. We are grateful to Barclays for supporting the buy-out and the funding package will enable us to also look for future expansion”.

Chris Knight, Barclays relationship director, commented: “I have been working with Tony, Kirstie and Ian for some time now to support the MBO and provide the facilities to take the business to the next level. This deal secures the future of the company and with the new funding in place we’re looking forward to seeing continued growth that takes them into 2016 and beyond.”

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