Monday, April 22, 2024

Scunthorpe-headquartered mobility equipment retailer secures investment

Foresight Group, a regional private equity and infrastructure investment manager, has invested into Eden Mobility, the retailers of mobility equipment.

Eden was formed in 1998 by long-term business partners of over 25 years, David Hughes and Karl Howe. They started Eden from its first showroom in Bentley, Doncaster, and have established Eden as a leading retailer.

It is headquartered in Scunthorpe and has 32 stores nationally employing over 100 people. Investment from Foresight’s North West and Yorkshire & North East focussed funds will enable Eden to further expand its footprint across the UK.

Foresight is supporting the company’s growth through elevating members of the existing management team to board level roles. Lee Jagger has been promoted to Sales Director, having previously held multiple senior sales positions prior to joining Eden, where he has been instrumental in delivering the revenue growth. Will Bailey has also been promoted to Operations Director, after rising rapidly through Eden since initially starting in the IT team.

The senior team will be further bolstered through the appointment of a new and highly experienced CEO and Chair.

Marek Laskowski has been appointed as CEO, bringing with him vital experience from Ann Summers and Mamas and Papas, two retailers whose business model is also built on in-store staff-based sales and where he managed 100 plus stores with over 1,000 employees.

Andy Torrance joins as Chair. Starting his career on the shop floor, Andy rose to the board that carved Halfords out of Boots with private equity backing, before subsequently serving as Chief Operating Officer at Dunelm and Holland & Barrett. Andy is now the Chair of Angling Direct, following three years as its CEO. A finance director is also set to be appointed.

Richard Ralph, Investment manager, Foresight Group, said: “As Yorkshire and the North East’s leading elderly mobility equipment retailer, we are delighted to support Eden Mobility on its next stage of growth.

“We are backing a strong existing and incoming management team to deliver an accelerated growth plan in a substantial, growing and unconsolidated market. We have every confidence the team will establish Eden as the UK’s leading elderly mobility equipment retailer.”

Karl Howe, Co-Founder, Eden Mobility, said: “We are delighted to welcome Foresight Group, Marek and Andy into the Eden Family.

“With Foresight’s investment we are excited to see the Eden brand continue its growth story, as we strive to create the market leading national mobility equipment retailer, serving people in local communities throughout the UK, who require high quality mobility equipment and a first-class service.

“We are incredibly grateful for the hard work and support of our advisors in delivering the transaction, without which the transaction simply would not have happened.”

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