Former Nottingham Forest chief executive, Paul Faulkner, has become chairman of Ellisons, the UK's oldest established hair and beauty wholesaler, following an MBO.

Founded in Birmingham in 1930, and now based in Coventry, Ellisons ships over 2.5 million items annually to more than 50,000 salons, spas and other customers across the UK and internationally.

The deal sees managing director, Geoff Morris, transitioning ownership to a new generation of leadership with the existing management team of Matthew Champney, Lee Farmer and Nadine Meakins having acquired a significant equity stake in the business.

Faulkner, the former CEO of Aston Villa, Nottingham Forest and the Greater Birmingham Chambers of Commerce, joins the business as chairperson, while Geoff Morris will remain as a substantial shareholder and advisor to the business.

Under Geoff's leadership the business has evolved impressively over the past decade, and I am excited to be joining now as Ellisons embarks on this next chapter of growth. We will continue to benefit from Geoff's industry knowledge, and I will support the management team with my own experience of developing teams and achieving results while fostering a dynamic culture within the business."

David Tucker, from Jasper Equity who originated and led the transaction, will also join the Ellisons Board.

The advisors were Assay Corporate Finance, Penningtons Manches Cooper, Claritas and Higgs . Santander remain funders to the group.

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