Springboard Corporate Finance is delighted to announce that it has advised on the sale of GroWell Hydroponics and Plant Lighting to a management team, led by Tom Ward, who have acquired a significant majority stake in the business.
About the deal
Founded in 1994, GroWell is the UK’s leading supplier of hydroponics equipment. Originally started from a single garden centre, GroWell now has a chain of eight retail stores and also sells its products online and via mail order.
Hydroponics is a method of growing plants without the use of soil, providing artificial lights and roots submerged in a nutrient rich solution, which enables the cultivation of plants not dependent on local climate. GroWell’s retail offering continues to expand and now includes an extensive range of hydroponic equipment and related products, including nutrients, filtration systems, lighting and complete grow kits.
GroWell was advised on the transaction by Deepak Parekh and Matthew Guest. Deepak commented “We are delighted to have been able to support Justin on the sale of GroWell and to have secured a bespoke funding package to facilitate the buy in by Tom Ward, the company’s Managing Director. GroWell is now well placed to continue its impressive record of growth and we wish them well for the future.”
How we made a difference
- Developed a comprehensive investor ready business plan;
- Ran a competitive fundraising process resulting in multiple debt offers to deliver the deal;
- Negotiated and structured a funding package to support the growth aspirations of the business and enable a partial exit for the owner founder of the business; and
- Project managed the process at all stages, securing a successful completion.
Tom Ward, Managing Director - GroWell Hydroponics & Plant Lighting
Springboard added value throughout the process and we are very pleased to have had them on board. Their in-depth knowledge of the debt market was excellent and they successfully delivered multiple bespoke funding options. I’d like to thank the team for their invaluable support in securing a successful outcome for all involved.
