PEM’s corporate finance team advises on sale of Greenhouses Direct
The deal marks a significant milestone for the Norfolk-based greenhouse manufacturer, positioning the business for continued growth and innovation in the UK’s thriving home and garden sector.
Greenhouses Direct is a homegrown success story. Founded in 1995, the business has established itself as a market leader in the production and supply of domestic greenhouses.
Over three decades, the company has built a reputation for quality and reliability, with its flagship ‘Rhino’ range becoming synonymous with durability and innovation among gardening enthusiasts nationwide. The Rhino brand, now a household name within the gardening community, has provided a strong platform for Greenhouses Direct to expand its product offering and reach new customers.
PEM’s corporate finance team, led by Philip Olagunju (Partner and Head of Corporate Finance), Asaad Khan, and Ellie Rochira, undertook a comprehensive marketing campaign, engaging with both financial and trade buyers from across the globe to identify the best strategic fit for Greenhouses Direct. Their role encompassed project management, negotiation and ensuring a smooth transition for all parties involved.
Michael Godfrey from PEM’s Business Tax team provided specialist tax advice, ensuring the transaction was structured efficiently for the shareholders.
The vendors also received legal advice from Alastair Gunn and Pavneet Aneja of Buckles LLP, while the buyers were advised by Bryan Shaw of Fox Williams LLP, received financial advice from Gerald Edelman and debt advisory services from IMAP UK.
Philip Olagunju said: “The team at PEM is proud to have supported the shareholders of Greenhouses Direct on the sale of their business. From the outset, we found Georges Nakhle (Mirabel Group) and Olivier Stapylton-Smith (Kantik) to be efficient, transparent, realistic, and pragmatic purchasers, and I’m confident that Greenhouses Direct will go from strength to strength under their strategic leadership. We would like to congratulate all involved on a successful transaction.”
The acquisition by co-sponsors Mirabel Group Limited and Kantik Limited signals a new era for Greenhouses Direct. The new owners bring a wealth of experience and resources, which is expected to accelerate the company’s growth and drive further product innovation.
Olivier Stapylton-Smith of Kantik Limited said: “We are extremely pleased to have completed the acquisition of Greenhouses Direct and wanted to thank the previous owners, Terry, David and Richard for their trust and support throughout the process.
“Greenhouses Direct is a Norfolk based manufacturing success story that prides itself on the quality of its products and of its customer service. We look forward to further growing the Rhino brand and its manufacturing capabilities.”
Georges Nakhle of Mirabel Group added:“Greenhouses Direct continues to build on a successful 30-year track record and has an outstanding team in place, led by Matthew Hill, Andrew White and many others. We are highly impressed by both the resilience of the business and its growth perspectives and are excited to be part of the Rhino brand's future.”