Kitwave Group
Country: United Kingdom
Region: North East
Investors: NVM Private Equity
Since NVM Private Equity invested in Newcastle-based wholesaler Kitwave in 2011, growth in company sales, profits and staff numbers have all accelerated.
NVM’s capital and expertise helped founder Paul Young take the group to the next level of its development by acquiring four complementary businesses: Automatic Retailing, Teatime Tasties, Anderson Wholesale and, more recently, Eden Farm. As a result of the expansion, turnover has more than doubled to £250m (€316m) and employee numbers have almost trebled to 450. Profits are also expanding quickly and were up almost 50% in the 2013 financial year, all of which has helped Kitwave earn a place in The Sunday Times Grant Thornton Top Track 250 league table of Britain’s leading mid-market private companies.
Paul Young
Group Managing Director - Kitwave
NVM has proved to be a flexible and supportive investment partner from the outset.
>2x
increase in turnover to €316m
11,000
new customers
What did the business need?
Capital to acquire a portfolio of complementary businesses across the UK
Help to increase its product range and customer base
Ongoing commercial and strategic support
How did private equity backing create lasting value?
Helped acquire and integrate four new businesses
Assisted Kitwave in entering new markets and increasing its customer base
Extended product offering into frozen food through acquisition of Eden Farm
Rebranded and improved sales and marketing capability
Broadened Kitwave’s geographic reach from regional to national coverage
What outcomes did private equity investment achieve?
Expanded from a group of five companies to nine
Established Kitwave as a leading wholesaler in Northern England
Increased employee numbers from 165 to c450 since 2011, with 30 new jobs created
More than doubled sales from £100m (€125m) to almost £250m (€316m)
Attracted 11,000 new customers
Investors
