One of the UK’s leading kitchen manufacturers, the Bernstein Group plc, has been sold to a Buy-In Management Buy-Out team led by entrepreneur, Bill Gleave. The deal will see the company, which will now be known as BGH, consolidate on its market position as well as building on its core brands.

BGH, based on Great Bank Road in Westhoughton near Bolton, employs over 400 staff. The company sells an extensive range of quality branded kitchens and appliances into high street and national retailers, national builders merchants and new build markets.

Gleave says he’s always liked the dynamics of the kitchen industry, “It’s not a price driven market and it has continually demonstrated growth which looks set to continue.

“BGH is a first class business with good, talented people with a high skill set across all levels, as well as an excellent supply chain and high quality manufacturing – these are all qualities I look for in a business.”

Backing for the deal, has been provided by the Manchester office of Enterprise Finance Europe UK Limited (EFE), one of the UK’s leading asset based lenders whilst Ford Campbell advised the BIMBO team on the transaction.

37 year-old Gleave has a proven track record within the home products industries having previously set up Northern Textiles in 1989, which he sold in 1996 to French plc. He then took over as CEO of French and within 12 months turned the business from a £1 million loss to a £1 million profit.

Bernstein operates separate divisions including its Kitchen Studio business, which sells kitchens direct to the consumer via 32 retail outlets.

Grovewood is the company’s new build range; manufacturing, assembling and installing kitchens for major house builders. Its Appliances division sells White-Westinghouse and Cookers appliances from Italy and Germany to sell with its kitchens.

“We see a lot of opportunity for Grovewood and this is an area we will be focusing on,” says Gleave. Another area is with one of our key customers, Travis Perkins the builder’s merchants. This is a recent customer gain for the company and we will be supporting all their depots nationwide with a range of full and mini displays and point of sale material. Travis Perkins is heavily involved in supplying to the social housing sector – an area which the Planning Authorities are positively encouraging – we will be working with them closely to ensure their needs are met for their expansion into this market,”

Current low interest rates are still encouraging consumers to look at adding value to their property via home improvements and Gleave believes BGH are in a strong position through its various routes to market to capitalise on this trend.

Enterprise Finance Europe director Gary Davison said EFE had organised the asset-based funding package within 15 working days of first being advised of the deal. “The BIMBO team are well known to EFE and will undoubtedly add considerable value to what is a well established business. The acquisition presents the company with many excellent opportunities for future growth in what is a fast-moving sector of the market.”

Ford Campbell partner Jeremy Carr added: “We are delighted to have helped Bill to buy this business having worked on the other side of the transaction from him on the last two occasions. This is an excellent opportunity to rebuild a previously very successful business and we wish him and the team well.”

Gleave says he is hasn’t taken over at Bernstein to re-invent the wheel. “Over £25 million was spent four and a half years ago on the manufacturing plant and we’ll be continuing to invest in our products, people and customer service to retain our competitive advantage.

“We will be staying put in Westhoughton. It’s time to get our heads down and get on with building and further developing the BGH business,” adds a committed Gleave.

BGH was originally founded by the Bernstein family in 1938 to manufacture furniture and began to focus on fitted kitchens in the early 1970s. The company is widely acknowledged for its quality products and brands and strong customer relations.

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