Rix & Kay have completed the acquisition of Ken Lamacraft Marketing Ltd (KLM) on behalf of clients, Fiona Peerless and Kevin Gambrill in a management buyout backed by Arbuthnot Commercial Asset Based Lending.
Ken Lamacraft Marketing Ltd (KLM), a supplier of beauty products for the salon and retail sectors of the cosmetic market was founded by husband and wife Ken and Margaret Lamacraft in 1995 and is headquartered in Tunbridge Wells, Kent.
Fiona Peerless and Kevin Gambrill have acquired 100 per cent of the shares in the group for an undisclosed sum. Both Fiona and Kevin have vast experience of the company, its strengths and its strategy, ensuring a smooth management transition.
Kevin Gambill commented,
“Fiona and I are excited at the opportunity of taking the enterprise forward into new areas with fresh ideas and a clear focus”.
Sara Carpenter who led the deal on behalf of the new management team commented,
“We have focused on bringing a deal that will allow Fiona and Kevin to realise their long-term aspirations for taking this exciting business forward in a sector that is growing rapidly. It has been a pleasure to work on this MBO that will help see another regional business in the heart of Kent to flourish”.