What's Happening?
J&J Ormerod, a furniture manufacturer based in East Lancashire, has been acquired by 4D Capital Partners, a private equity firm. The acquisition is supported by a £10m revolving growth facility provided by Allica Bank. This financial backing is intended to safeguard jobs, expand services, and accelerate the company's growth. The Greenhalgh family, which has been involved in the business for generations, will continue to play a role, with Stephen Greenhalgh remaining as Managing Director. The new ownership plans to invest heavily in staff, processes, and capacity, while further developing JJO’s installation and contracting arm to offer a full end-to-end service.
Why It's Important?
The acquisition and financial support are significant for the local economy, as J&J Ormerod has been a cornerstone of East Lancashire for over 150 years, employing nearly 270 people. The investment aims to enhance the company's capabilities and ensure its long-term sustainability. By expanding services and safeguarding jobs, the move is expected to contribute positively to the regional economic landscape. The involvement of 4D Capital Partners, known for their investments in property and housing, suggests a strategic approach to leveraging JJO's established market presence.
What's Next?
The new owners plan to implement a strategy focused on investing in staff and processes, which will likely lead to increased operational efficiency and service offerings. The £10m growth facility will be used to fund the acquisition, meet working capital requirements, and support future expansion. This could result in JJO becoming a more competitive player in the furniture manufacturing industry, potentially attracting new business opportunities and partnerships.
