Hawco Looks to the Future with New Ownership
Monday, 3 April 2023
Hawco acquired from Diploma PLC in a management buyout funded by private equity partners
Hawco Limited, along with its sister company Abbeychart, have been acquired in a management buyout by Bay Tree Partners. The Hawco group was previously owned for 20 years by Diploma PLC.Bay Tree intends to invest in Hawco to enable the business to take advantage of opportunities to reach the next level of growth in both UK and overseas markets. Established in 1973, the acquisition coincides with Hawco celebrating 50 years of trading.
Martin Butler, Managing Director of Hawco Limited, said: “This is an incredibly exciting time and a huge opportunity for the business. Bay Tree’s capital and expertise will bring the tools needed to build further on the value-add services we offer and expand on the success of our international sales.
Bay Tree Partner Michael Simmonds, adds: “We are delighted to be supporting Martin and his team to complete the management buyout of Hawco. We have been impressed by Hawco’s depth of technical support for customers and by its strength in supplier relationships. Its resilience was proved during lockdown and with access to funding we believe it can build on this strong foundation, with both organic and acquisition growth strategies.
Michael Simmonds and Ed Cottrell will be appointed to the Board. In addition, Bay Tree have appointed Duncan Wilkes as Chairman. Bay Tree Partner Ed Cottrell adds, “We are delighted to have Duncan on board as Chairman. Duncan has worked closely with Bay Tree during the acquisition and has led a number of successful PE backed businesses in the industrial and distribution sectors, with relevant experience in international expansion and M&A. He is also a fantastic mentor for management teams.”
Bay Tree will utilise its experience and insights in value-added distribution gained in its investment in Prime Light and through its network, including the introduction of Duncan Wilkes as Chairman, to support investment in the growth plans developed by the management team for both Hawco and Abbeychart.
For more about Bay Tree Partners, visit www.baytree.pe