Rcapital has backed Scottish shopfitter Havelock, based in Kirkcaldy, Fife. The deal secures over 300 jobs and the firm’s manufacturing sites, providing financial stability for the business.
Havelock’s management team will work in partnership with Rcapital to restructure and invest in the business. A key focus will be to ensure that all customer projects are completed in full, the delivery of innovative design, manufacturing and supply arrangements.
Shaun Ormrod, Chief Executive of Havelock said: “We have been exploring a range of long-term funding options for the business over the past few months to ensure that we are financially strong for the future. The team at Rcapital have the expertise to help us take the business forward, driving performance and delivering results. I want to thank our employees, customers and suppliers for their on-going support during this time.”
Josie Richardson, Director at Rcapital said: “The underlying Havelock business is strong and provides refits for some of the UK’s best-known high street brands. We fully support the management and operational teams and will work with them to ensure the best possible customer service and sustainable growth.”
Rcapital was introduced to the opportunity by PwC. Eversheds provided legal advice to Rcapital with Addleshaw Goddard advising the vendor.