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Springboard Corporate Finance 

June, 2019 - England



Springboard Advise on the Vendor Assisted MBO of GroWell Hydroponics and Plant Lighting


Springboard is delighted to announce that it has advised on the sale of GroWell Hydroponics and Plant Lighting to a management team, led by Tom Ward, who have acquired a significant majority stake in the business.

Founded in 1994, GroWell is the UK's leading supplier of hydroponics equipment. Originally started from a single garden centre, GroWell now has a chain of eight retail stores and also sells its products online and via mail order.

Hydroponics is a method of growing plants without the use of soil, providing artificial lights and roots submerged in a nutrient rich solution, which enables the cultivation of plants not dependent on local climate. GroWell's retail offering continues to expand and now includes an extensive range of hydroponic equipment and related products including nutrients, filtration systems lighting and complete grow kits.

GroWell was advised on the transaction by Springboard Partner Deepak Parekh and Manager Matthew Guest. Deepak commented "We are delighted to have been able to support Justin on the sale of GroWell and to have secured a bespoke funding package from OakNorth Bank to facilitate the buy in by Tom Ward, the company's Managing Director. GroWell is now well placed to continue its impressive record of growth and we wish them well for the future."

"Springboard added value throughout the process and we are very pleased to have had them on board. Their in-depth knowledge of the debt market was excellent and they successfully delivered multiple bespoke funding options. I’d like to thank the team for their invaluable support in securing a successful outcome for all involved." Tom Ward, Managing Director - GroWell Hydroponics & Plant Lighting Ltd

We are a market leading corporate advisory firm focused on providing strategic, commercial and financial advice and support to a range of clients. We focus exclusively on the following services:

• Acquisitions - supporting corporates and management teams – identifying targets and executing deals
• Disposals - Full or partial business sales and exits
• Raising finance - working capital or development capital – typically debt or private equity/venture capital
• Management / Retained advisory - strategic, commercial and financial support


WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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