Uform Agrees PE Investment with Cardinal Ireland Partners
Cardinal Ireland Partners, the Irish private equity growth fund managed by Cardinal Capital Group, has invested in Uform, with plans to scale the business. Founded in 1993 by Eamon and Paul Donnelly, alongside their late father Eddie, Uform employs 415 people at facilities in County Antrim and County Donegal and delivers more than 1,500 kitchens per week to a growing, loyal, and diverse customer base throughout the UK and Ireland.
Eamon and Paul Donnelly will remain as significant shareholders in the business alongside Cardinal and BGF, a UK-based investment company.
The investment by Cardinal, the largest private equity fund dedicated to investing in Ireland, will be used to significantly expand Uform’s operating capacity at its 225,000 sq. ft. facility in Toomebridge, County Antrim. The investment will also be used to bolster Uform’s expertise, capability, and capacity in paint-to-order products, providing customers with a wide selection of colours and finishes. Cardinal’s investment will also be used to increase capacity at Uform’s sister company, Andoras. Based in Donegal, Andoras produces luxury made-to-order artisan kitchen furniture under the recently established “Novelle by Aisling” brand.
Uform’s annual growth rate of 40% over the last three years has continued this year as consumers continue to place increased value on kitchens post pandemic, which is driving positive trends around premiumisation, personalisation and shorter replacement cycles – all of which Uform is ideally positioned to capitalise on.
Paul Doody (pictured right), Associate Director at Cardinal Capital Group, said: “Uform has the potential to scale significantly and become a market leader over the next four years. We have looked at many companies in the wider kitchen, bedroom and bathroom space and the quality of the Uform offering, its competitive positioning and the management team stand out as being best in class. Uform’s market–leading position in Ireland coupled with a well–established, and fast–growing, presence in the larger, highly fragmented UK market is very attractive to us.”
Simon Oliphant (pictured left), Group CEO of Uform, said: “Uform has always had the ambition and the ability to grow. We see very considerable opportunity in both the Irish and UK markets. This investment by Cardinal will allow us to realise that potential.”
Cardinal’s Mike Maloney and Paul Doody will join the Uform board. The transaction is subject to clearance from the Competition Authority.
