Hozelock

Hozelock Ltd was originally set up by Sydney Codling in 1959 [1] to sell hoses and garden equipment. As well as manufacturing the equipment in the Haddenham factory they also designed many of their own products.

Sydney's son, David Codling, took over as Chief Executive circa 1990, after the business was bought in 1990 by CVC Capital Partners, then named Citicorp Venture Capital, in a £24m buy-out from Ropner, the conglomerate.

CVC bought the business with rival private equity groups Cinven, Legal & General Ventures and Prudential's venture capital division. Hozelock was floated in 1993, but CVC took the company private again in 1999 for £85m after a succession of wet summers and stock market turmoil halved the company's share price. [2]

CVC Capital Partners looked set to finally offload gardening equipment manufacturer Hozelock after agreeing a sale to strategic buyer Exel Industries in October 2012. They had previously put Hozelock up for sale in 2007 for £100m and again in 2009, failing on both occasions. [3]

David Codling retired as Executive Chairman in 2009. Steve Hall then became Group CEO. The current Ceo is Marc Ballu of Exel.[4]

References

  1. ↑ "http://www.zoominfo.com/people/Codling_Sydney_177176115.aspx"
  2. ↑ "http://www.telegraph.co.uk/finance/markets/2811086/Sale-of-Hozelock-in-pipeline-for-around-100m.html"
  3. ↑ "http://www.altassets.net/private-equity-news/by-news-type/deal-news/cvc-capital-partners-agrees-hozelock-sale-at-third-time-of-asking.html"
  4. ↑ "http://www.diyweek.net/news/news.asp?id=16035&title=Hozelock+appoints+new+CEO+following+French+takeover"
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