Having signed a new lease for a second site in Leeds, Cubico Bathrooms moved into Towngate’s Unit C at Copperworks site on Haigh Park Road around a year ago. Looking to boost their existing storage and distribution space, the move obviously paid off as the The Business Desk.com reports that Yorkshire based investment firm, Growth Partner, has now acquired a multi-million pound stake in the Yorkshire bathroom and tile specialist.
Growth Partner, which is backed by HomeServe plc founder and CEO Richard Harpin, has made the investment to acquire a significant minority stake in the company. It is Growth Partner’s second such deal within the home improvement sector this year, having invested in North East based Flooring Superstore in February.
Cubico Group operates via its trade-facing brand, Cubico Bathrooms, and its consumer facing brand, Easy Bathrooms, having built an expanding national footprint of 65 showroom and trade counter stores, alongside its wholesale and growing e-commerce channels.
Cubico was founded in Leeds in 2012 by managing director, Craig Waddington, who has over 25 years’ experience in the bathrooms industry. He was joined by sales director Scott Tattersley and IT director Steve Browett shortly after setting up the business, with Laura Green joining in 2015 as FD.
The business now has sales in excess of £45m and employs over 400 people.