This business, established several decades ago, offers the best of British craftsmanship, providing bespoke furniture and interior solutions worldwide to an elite client base. The client base includes prestigious corporate and private projects and includes very wealthy individuals, all of whom expect the very highest levels of service coupled with absolute privacy and discretion.
The business operates from well-equipped leased premises located in the South West and employs over 25 staff. A majority of the staff have been with the business for some time and this longevity of experience enables it to produce the highest quality furniture and interior design solutions, innovating with both materials and techniques.
Interest in the business was not as strong as we had hoped, we think because of the niche market and concerns about the impact of BREXIT. However, we were able to conclude a very satisfactory deal with a newly formed Private Equity player and Heads of Terms were signed. Unfortunately, as happens in a minority of cases, the deal failed during legal stages as a result of disagreements between the two parties which we were unable to bridge.
As an alternative approach, members of the management team were approached about buying the business and with vendor financial support, a mutually agreeable solution was found. Although less than optimal from a financial perspective, it was achieved in a time frame and level of confidence that satisfied the vendor’s needs, given their time constraints.