A bathroom furniture manufacturer and distributor has been acquired by a Malta-based company in a deal funded out of Birmingham.

Cavalier Marketing has been bought by HLD Group, a specialist group based in Malta which has a range of manufacturing and industrial distribution businesses across the UK and Europe.

RBS Invoice Finance and RBS Corporate banking teams in Birmingham, comprising Colin Muir, Derek Prince and Ian Macnamee, put together a finance package while the Leeds office of financial services firm Mazars introduced Cavalier to HLD Group.

The vendors, John and Rob Harrison, will remain with Keighley-based Cavalier for the long-term and continue to develop the bathroom business within HLD Group.

Mr Muir, head of asset-based lending for SMEs with RBS Invoice Finance, said: "We are delighted to support the HLD Group in its latest chapter in their growth plans and look forward to being an integral part of their future success."

Demis Ohandjanian, chief executive of HLD Group, added: "The acquisition of Cavalier Marketing has been in our plans for several months, the business has developed superbly under the leadership of John and Rob Harrison.

"With this acquisition, our group will make a quantum leap in the home products sector and we are thrilled at the prospect of working with John and Rob for the long term benefit of Cavalier and HLD."

He added: "I have no doubt this will be the start of a long-term partnership with RBS Invoice Finance and RBS as HLD continues to make acquisitions across the UK."

Legal representation for Cavalier Marketing came from the Leeds office of Irwin Mitchell while Squires Patton Boggs UK acted for RBS.

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