Cavalier is one of the largest manufacturers and suppliers of bathroom furniture in the UK and the acquisition compliments other HLD Group companies.
HLD, which is based in Malta, acquired Bradford-based bathroom fitting manufacturer Spring Ram Corporation in December 2012, and Reva Industries, which operates in the same market, also from Bradford, in May 2013.
John and Rob Harrison, the vendors, will remain with Cavalier Marketing to continue to develop the bathroom business with the HLD Group.
Demis Ohandjanian, chief executive of HLD Group, said he had planned the acquisition for several months. “With this acquisition, our group will make a quantum leap in the home products sector and we are thrilled at the prospect of working with John and Rob for the long-term benefit of Cavalier and HLD,” he said.
The deal was supported and funded by RBS Invoice Finance and RBS corporate banking teams. Mazars, Addleshaw Goddard and Irwin Mitchell advised Cavalier Marketing, and Squires Patton Boggs UK acted for RBS.
John Harrison said: “We are delighted to complete the sale to HLD and will continue to be actively involved with the business as it becomes part of the HLD Group.
“From the moment Oliver Hoffman at Mazars introduced us to HLD we knew it was a strong fit and would benefit the future growth of Cavalier Marketing, our customers and our staff.”