Lakeland Acquired in Hilco Funded MBO
Deal News | Apr 17, 2025 | Home of Direct Commerce
Lakeland, originally founded as Lakeland Plastics by Alan Rayner in 1964, has undergone a management buyout (MBO) allowing the next phase of the company to start without the direct involvement of the Rayner family. The MBO was funded by Hilco, which provided both the acquisition financing and long-term capital for the organization's future endeavors. The company will now operate under the leadership of existing CEO Catherine Nunn, with support from Stephen Hill as CFO/COO and Neil Piggot as chief commercial officer. The transition represents a confident handover of operations intended to sustain and build upon Lakeland's established reputation and customer loyalty.
Sectors
- Consumer Goods
- Private Equity
Geography
- United Kingdom – Lakeland is a UK-based company, and the funder of the MBO, Hilco, is also operational within the UK. Thus, the geographic focus of this transaction is centered on the UK.
Industry
- Consumer Goods – Lakeland operates in the retail sector offering consumer goods, thus falling directly into the Consumer Goods industry.
- Private Equity – Hilco's involvement as a financial backer demonstrates the intersection of the Private Equity industry with Lakeland's management buyout.
Financials
- Not disclosed – The financial terms of the MBO funded by Hilco were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lakeland | Target company | Company | Originally founded as Lakeland Plastics, the company is a retailer of kitchenware and other home products. |
| Hilco | Financial Backer | Company | A private equity company providing funding for acquisitions and management buyouts. |
| Catherine Nunn | CEO | Person | CEO of Lakeland, who will lead the company following the MBO. |
| Sam Rayner | Former Owner | Person | One of the Rayner brothers, former owners of Lakeland who facilitated the MBO. |
| Stephen Hill | CFO/COO | Person | CFO/COO of Lakeland following the MBO. |
| Neil Piggot | Chief Commercial Officer | Person | Chief Commercial Officer of Lakeland following the MBO. |