Maven achieves profitable return on the sale of Just Trays

Just Trays
Maven has realised its investment in Just Trays following the sale of the business to Kartell UK Limited, delivering a 2x return for VCT investors.

Just Trays is a niche manufacturer of shower trays, selling its products into the bathroom distribution channels, building and plumbing merchants, as well as direct to housebuilders. Founded in 1988, the Company has been designing and manufacturing an extensive range of high-quality shower trays and accessories for over 30 years. It now produces over 6,000 shower trays a week for the UK and international markets from its facility in Leeds, West Yorkshire.

Maven originally backed the secondary MBO of Just Trays from Gresham Private Equity in June 2014 and has supported the business in becoming one of the UK’s leading independent shower tray manufacturers. 

Maven has an established track record of delivering profitable realisations and in the past two years has now exited from eight private equity investments across the UK, generating investors returns of up to 4.5x.

“We are pleased with the return that we have generated for our investors from the sale of our stake in Just Trays. Despite market pressures, the business has performed strongly and built an excellent reputation in the market for the quality of its products and service. The sale to Kartell is a perfect fit for Just Trays, with significant synergies between the two businesses. It has been a pleasure to work with the management team over the past four years and we wish the company well as it embarks on the next stage of its growth.”

Ryan Bevington, Investment Director at Maven


“We are delighted to have been acquired by Kartell, which will complement and accelerate Just Trays' growth in the coming years. We would like to thank Maven for their support over the past five years, helping to build Just Trays into the UK’s leading shower tray brand.”

Paul Crossley, CEO at Just Trays

“It is very satisfying to see the management team, with the support of Maven Capital Partners, develop and grow the JT brand and now in Kartell to find long term trade ownership which secures the future of the brand and the dedicated workforce. This transaction provides a great outcome for all parties.”

Alun Hall, Chairman at Just Trays

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