Online lighting retailer LED Hut has bought back the company from US venture capitalists. The company had merged with American firm, Batteries Plus, two years ago, but has now been purchased by former LED Hut Financial Director Clive Brown and his business partner Simon Boyle.
LED Hut, which launched in 2011, employs 60 staff at its Manchester HQ and had a turnover of over £18m in 2015. The company has sold over eight-million lightbulbs in the last five years.
Clive Brown, LED Hut’s new CEO and MD has held senior roles at Elopak UK, Photronics UK and Schlumberger before setting up his own company, Browns Consulting Services, in March 2015, providing business, financial and IT services to SMEs.
Simon Boyle, co-owner and COO at LED Hut, is a business consultant who was previously Financial Controller at Elopak UK.
The new aim to increase turnover by 15 per cent in the coming year.
