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Foresight Group invested £4m into Folkestone Fixings (FFX) to support its growth.

Company Description:Ecommerce supplier of hand tools, power tools and accessories to contractors, building firms and the DIY sector.
Instructed by: Foresight
Size: £4m

Foresight Invests in FFX

Foresight  Group   (“Foresight”)  has  invested  £4.0   million  to  support  growth  of  Folkestone  Fixings   Limited (“FFX”). WK Corporate Finance completed financial due diligence on behalf of Foresight. 

FFX  is  a   multi-­‐channel   supplier  of  high  quality  hand  tools,   power  tools  and  accessories,   fixings, fasteners and  general   building  products.  Headquartered   in  Folkestone,  FFX  supplies  contractors, building  firms  and the DIY  sector.  Initially  founded  as  a  traditional  ‘bricks  and  mortar’  supplier  at  its Folkestone  site,  FFX  launched  its ecommerce  channel  in  2009  and  has  since  grown  rapidly.  

Experienced  sector  entrepreneurs  Patrick  Ker  and  Tim  Horrell  have  also  invested  and  joined  the business  in executive  positions  and  will  work  alongside  the  incumbent  management  team  to  drive growth.  George  Adams  is joining  the  company  as  Chairman.  Adams  has  held  multiple  senior positions  in  the  building  products  sector, including  the  Chairmanship  of  Screwfix  while  at  Kingfisher plc.

The  investment  follows  a  period  of  strong  growth  for  the  business,  which  has  doubled  revenues  in the  last three  years. The  experienced  management  team  are  looking  to  continue  the  growth through  introduction  of new product  ranges, improved  marketing and expansion  into  a  new  60,000 sq ft  distribution  centre.    

James  Livingston,  Director,  Foresight  Group,  commented:  

“We  are  excited  to  invest  in  FFX  al ongside  the  experienced  and  entrepreneurial  management  team. The business  has  a  strong  market  position  and  has  delivered  rapid  growth.  We  look  forward  to working  with management  to  further  expand  and  diversify  the  business.”  

Tim  Horrell,   Present  Executive  Chairman,  Folkestone  Fi xings  Limited,  commented:    

“Once  we’d  been  approached  by  FFX  we  knew  this  was  the  right  platform,  so  it  was  a  matter  of  making  sure the  deal  happened.  Working  with  Foresight  was  very  straightforward;  it  was  a  pleasure negotiating  with  sensible, pragmatic  backers.  We  are  very  excited  by  the  potential  of  this  fast growing  business.”

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