About the client
Broadstock Office Furniture Limited is a c.£18m turnover designer, manufacturer and installer of desking and seating furniture. Operating across the UK, Broadstock’s vertically integrated offering and high level of customer service is a key differentiator in a fragmented market. Customers span both the private and public sectors, with a particularly strong presence in educational and governmental markets.
About the deal
Rickitt Mitchell advised the shareholders of Broadstock on its disposal to workspace interiors specialist, Southerns Group. The transaction has created a c.£40m turnover group, with over 200 employees. Southerns is backed by a private equity vehicle established by Steve Parkin, the founder of Clipper Group plc. Funding for the transaction was provided by Santander.
“Neil navigated us through the process, negotiating and structuring a deal to achieve our value aspirations. His advice and support throughout the transaction was invaluable.”Nick Munsch, Managing Director and Founder of Broadstock