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Novo makes perfect pitch for camping product manufacturer
16/09/2008

A major Nottinghamshire-based camping product manufacturer has changed hands in a multimillion pound deal.

An 80% stake in Pyramid Products Ltd, which sells products to the caravan, camping and outdoor equipment industry, has been acquired by Group Novo Ltd from owners Bruce Hunter and Philip Haywood who are to remain with the Company.

The company will continue to offer a wide range of products from awnings, tents and gazebos to outdoor heaters and water carriers.

Pyramid Products was established 15 years ago and is on target to report an annual turnover in excess of £10M.

Rob Higgins of Group Novo Limited commented: "Pyramid Products has an excellent reputation for the manufacture and provision of high quality products within a growing sector and we aim to build on this.

"With more people conscious of their carbon footprint and rising fuel prices, high-quality camping options are becoming increasingly attractive, particularly products that can withstand the deluges of the average British summer!"

The deal was completed by corporate partner Ruth Jones and solicitor, Simon Lewis at Manchester-based Brabners Chaffe Street LLP, who advised the sellers. Ian Lewis at Bray & Bray, and Dains LLP acted for the Buyer.

Ruth Jones commented: "Despite another dismal summer, the leisure sector continues to show signs that it is holding up in the current economic climate and this deal illustrates the demand for high quality suppliers."

The deal was funded by Alliance & Leicester Plc, and GE Capital who were advised by Geldards LLP and DLA respectively.


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