Lincolnshire based multi-channel garden retailer YouGarden founded by entrepreneur Peter McDermott seven years ago, has completed an MBO.

The company’s annual revenues have increased by an average of 35% over the past five years, topping £17 million in the past year. The MBO was backed by buy-out specialists Kester Capital, who have known McDermott and his business since the start-up in 2012.

In addition to its direct-to-consumer brand YouGarden, the company also acts as gardening category manager for prominent retailers like Amazon, Groupon, Ideal World TV Shopping and Shop Direct. It reaches around 800,000 consumers.

Peter McDermott, who is MD, said the partnership with Kester Capital would give them extra firepower to accelerate expansion plans. “The team at Kester really understands our business and have a long track record of supporting growth in UK businesses. We are excited to work with them in order to take YouGarden to the next level.”

Kester focuses on UK businesses that require capital to unlock their potential.