Chorley firm Euxton Group boosted with £2.75m Foresight investment

Private equity investment manager Foresight Group has invested £2.75m in the buy-in management buyout (BIMBO) of e-commerce business Euxton Group Limited.

The deal is the first of the £38m Foresight Regional Investment Fund (FRIF) and will allow Euxton Group to drive sales by capitalising on the increasing prevalence of e-commerce.

Chorley-based Euxton Group encompasses Hedges Direct, Best4Hedging and Impact Plants, each of which focuses on various horticultural niches, including hedging.

The Foresight investment will see Michael McVey join Euxton in the role of managing director to work alongside the firm’s existing team, which includes Jamie Shipley, Kathryn Gallagher and Paul Francis.

Additionally Claire Alvarez, the senior investment manager who led the transaction from Foresight’s office in Manchester, will join Euxton’s board.

Michael McVey said: “We are excited to be working with Foresight to help Lancashire-based Euxton Group continue its growth in the landscaping and gardening market.

“With the support of Foresight we will continue to develop the group through improvements to our websites, adding additional product ranges and expansion into overseas markets.”

Foresight partner James Livingston commented: “As the first deal for the Foresight Regional Investment Fund, we are extremely pleased to have invested in Euxton Group.

“The business is a leader in its target market, and we look forward to working with the management team to create further value within the business and continue growth.”

Claire Alvarez said of the deal: “It is a pleasure to mark Foresight’s commitment to the North West with this investment into Euxton, which has demonstrated such impressive growth over the past few years.

“I look forward to working with the management team to build innovative strategies for the business’s development nationally and internationally.”

Paula McGrath and Chris Cumber of law firm Brabners’ corporate finance arm advised on the deal, while Kieran Toal and his team at Shoosmiths – along with Brabners’ Denise Walker and Daniel Hayhurst – provided legal advice.

Elsewhere, a Grant Thornton team led by Philip Grindley provided financial due diligence. Commercial due diligence was provided by consultants Neovian Partners, led by Lushani Kodituwakku. Michael Hicks and Andy Airey of Catalysis Partners provided management due diligence.

Euxton was advised by law firm Napthens and accountants Cassons.

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