Baird locks up Paddock

Private equity firm Granville Baird has invested £8.9 million in the management buyout of Paddock Holdings, a West Midlands-based designer and manufacturer of multi-point door locks.

Existing managing director Nigel Hutchinson heads the MBO team.

Paddock, which generated sales of £27 million last year, trades under two main brands, ‘Lockmaster’ and ‘Mantis’, and has developed a strong presence in the social housing, new-build and household maintenance markets. With Granville Baird’s backing, Hutchinson hopes the company can further develop both its service and product offerings. ‘We intend to invest greater resources in our sourcing and distribution activities,’ he elaborates.

Richard Harvey, Paddock’s founder and erstwhile chief executive, will now step down.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

Related Topics