Irish brand Sonas Bathrooms has received “significant” investment from private equity firm Woodberry Capital, to support its UK expansion plans.
The private investment company invests family capital in businesses with the potential to create “substantial long-term’ value.
It will Woodberry Capital become a shareholder of the business and see MML Growth Capital Partners and Muzinich & Co exit as shareholders.
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Sonas Bathrooms employs over 100 people and its sales reached over €60million in 2024, reports MML.
Seeking to replicate its success in Ireland, Sonas Bathrooms expanded to the UK in 2023 and exhibited at Kbb Birmingham for the first time in 2024.
CEO of Sonas Richard Sloan commented: “The completion of this investment means that MML Growth Capital Partners Ireland and Muzinich & Co, who supported the 2021 MBO through a minority roll-over, will exit as shareholders.
“Muzinich & Co remains as a supportive leader to the business.
“Since MML’s initial investment back in 2017, and more recently Muzinich in 2021, both Neil McGowan (MML) and Howard Mahon (Muzinich), along with their respective teams, have supported management and the wider Sonas business on what has been a key growth period, and we thank them sincerely for their positive contribution.”
He continued: “We are delighted to welcome Woodberry as shareholders into Sonas and we look forward to working with Mark Keating and Pat Doran and benefitting from their expertise and track record in helping businesses to scale.
“The investment will support our future expansion plans in the UK, while reinforcing our position at the leading supplier of bathroom products in Ireland.”
Sonas shareholders were advised by Clearwater International, A&L Goodbody LLP and PwC.
Muzinich & Co was advised by Mason Hayes & Curran while Whitney Moore acted for Woodberry.