11 April 2023
Distributor Hawco, along with sister company Abbeychart, has been acquired in a management buyout by Bay Tree Partners. The Hawco group was previously owned for 20 years by Diploma PLC.
Bay Tree says it intends to invest in Hawco to enable the business to take advantage of the opportunities to reach the next level of growth in both the UK and overseas markets.
Martin Butler, managing director of Hawco, said: “This is an incredibly exciting time and a huge opportunity for the business. It will bring the tools needed to build further on the value-add services we offer, ensure we have the most up-to-date product offerings for our customers and expand on the success of our international sales, an area that is now core to the business.”
Michael Simmonds, who joins the board with fellow Bay Tree partner Ed Cottrell, said: “We are delighted to be supporting Martin and his team to complete the management buyout of Hawco. We have been impressed by Hawco's depth of technical support for customers and by its strength in supplier relationships. Its resilience was proved during lockdown and with access to funding we believe it can build on this strong foundation.”
Established in 1973, the acquisition coincides with Hawco celebrating 50 years of trading.