Denby Group reports record results
March 15th, 2012
Denby Holdings, the Valco-owned pottery business comprising the Denby, Burleigh, Poole and Leeds potteries, has achieved a significant turnaround in performance in 2011.
The Group enjoyed its biggest ever December with sales up 8% to £4.3 million whist sales for the year were up 5% with EBITDA up 50%.
The Denby brand enjoyed a 31% increase in international sales, driven by expansion into Korea and Japan. Back at the company’s Derbyshire manufacturing base, plans are progressing to expand the existing Denby Visitor Centre to include a hotel, village inn and outdoor activity centre, creating 600 jobs.
The Group’s strong financial performance is positive news for British design and manufacturing in a challenging market.
Valco nominated for turnaround awards
August 24th, 2011
Valco Capital Partners, the private equity arm of Hilco UK, has reached the final stage of the prestigious Insolvency & Rescue Awards for both the Burleigh and Park Precision turnarounds. The winner of the Business Rescue of the Year (Under £20m Turnover) category will be announced at the awards ceremony on 5 October 2011.
The category includes tough competition from major multinationals including PwC and KPMG but the Valco team remains optimistic, having previously won the award in 2009 for the Denby turnaround.
The Prince’s Regeneration Trust acquires Burleigh’s Middleport Pottery
June 14th, 2011
Burleigh, the 150 year old pottery company that was acquired in 2010 by Denby (the homewares group owned by Valco Capital Partners), has completed the sale of its historic premises to The Prince’s Regeneration Trust.
The Trust, one of HRH The Prince of Wales’ charities, will work with Burleigh, English Heritage and the UK Historic Building Preservation Trust to renovate Burleigh’s Middleport Pottery, the last working Victorian pottery in the UK. Original features will be restored and excess space will be converted into a world class visitor centre. The site will continue to produce the company’s famous Burleighware.
Litho Supplies sold to Agfa Graphics
April 5th, 2011
Litho Supplies, the UK’s largest distributor of consumables to the printing industry, which was acquired by Valco Capital Partners in December 2009, has been sold to Agfa Graphics, a leading multinational supplier to the industry. The transaction presents a strong vertical integration opportunity for Agfa, consistent with similar transactions they have completed in the US and Europe.
Valco provided the funds and restructuring resources to stabilise Litho Supplies following the administration of its publicly traded parent company.
The refinancing and ultimate sale of the business was only possible given the efforts of the Valco and Litho teams to upgrade the finance and credit control function and drive a restructuring of the overhead cost base throughout 2010.
Allied Carpets Agrees Sale
March 16th, 2011
Allied Carpets has agreed the sale of its retail business to a private group of investors. The new board commented:
“We are pleased that we have managed to conclude the acquisition and believe there is significant scope to further grow our market share and develop the Allied brand whilst continuing to offer unparalleled customer service.”
Valco Succeeds at Turnaround and Rescue Awards
October 26th, 2010
Building on the success of Valco winning Turnaround of the Year at the annual Turnaround and Rescue Awards last year, Valco Capital Partners has been awarded the runner up position this year for its role in the financial and operational restructuring of Home Flooring Solutions.
Home Flooring Solutions (HFS) is one of the leading flooring insurance claims service providers and specialises in the assessment, validation and fulfilment of domestic flooring claims on behalf of insurers. Following the Valco-backed MBO in mid-2009, Valco has provided the turnaround support to successfully separate the HFS business from the original parent company group to create a completely independent business, thereby complying with FSA best practice. In addition, the Valco team has successfully managed the fulfilment of more than 5,000 customer claims which were outstanding when the parent company of HFS entered Administration. At the same time Valco has assisted in the transition of 50% of all purchasing and cutting to a new supplier to obtain enhanced margins and improved customer choice.
Since acquisition, all key insurance contracts have been retained and the business has attained sole supplier status for one if its largest insurance clients. In addition the business has gained a number of new insurer contracts, including the claims business from a leading UK retailer. HFS is now profitable, has gained new business and is participating in the tenders for two large UK insurers in order to further grow the business in 2011.