The deal to acquire leading North West retailer Clearview Home Improvements takes the group’s combined revenue to more than £40m and was described by the firm as a “firm stake in the ground”.
Funding to support the deal has been structured by Allied Irish Bank (GB) with advice from international accountancy and advisory firm Mazars and legal advice from Field Fisher.
The purchase of Clearview, combined with the recent acquisition of Pennine Home Improvements, gives the group a sizeable inroad to consumer sales.
Greg Kane, chief executive, said: “We’re absolutely delighted to welcome our long-standing Network partners Clearview to the CO Group.
“With an unbeatable reputation for local excellence in the North West, the team at Clearview will continue to augment their unique approach to home improvement, imparting their innovative solutions with our Network to stimulate wider
growth we never thought possible a year ago. Allied Irish Bank (GB) have also continued to demonstrate their confidence in our business by providing funding once again to assist our future growth strategy.”
The new combined turnover represents a six-fold growth for the Conservatory Outlet Group in just seven years.
Both Clearview and Pennine will run side by side as sister companies within the CO Group.