Rixonway manufactures kitchens for clients in the social housing sector such as Councils and Housing Associations. It makes between 800 and 900 kitchens a week, designing each kitchen to the tenants’ specifications.
The management team which acquired the business already held a significant minority investment in the company. The deal allowed three other shareholders to retire.
PPCF acted as advisor to the management team. The deal was structured to allow the team to sell their existing investment for a combination of cash and a shareholding in Newco. Funding for the deal was provided by August Private Equity alongside a debt package from Singer & Friedlander.