Howes Percival advised Utopia Capital Investments Group Limited on the sale of its trading subsidiary, Utopia Furniture Ltd, to Brand K Group.
Wolverhampton-based Utopia Furniture has been manufacturing bathroom furniture for more than 35 years, supplying a nationwide network of independent bathroom showrooms and leading housebuilders.
The transaction represents Brand K Group’s tenth UK acquisition and adds another established British manufacturer to its growing portfolio of bathroom and radiator brands.
Led by Corporate Partner Gary Smith alongside Director Shital Odedra and Associate Ryan McGuinness, the Howes Percival team advised the seller on all aspects of the transaction, which was highly complex and multi-faceted, involving legal advice on a cross jurisdictional basis.
Faye Meredith provided banking support, Marcus Carter and Georgina McDonald advised on property matters, and Stephen Ruse and Zara Khan handled intellectual property and IT.
Howes Percival’s Gary Smith commented,
This transaction is a further example of the complex M&A work our corporate team undertakes for shareholders and owner-managed businesses. Our depth of resource across teams enabled us to provide advice across numerous work streams throughout the process. The deal reflects continued consolidation in the UK kitchen, bedroom and bathroom sector, with established groups seeking to broaden their portfolios through the acquisition of well-known British manufacturers and brands.
We continue to see appetite for strategic acquisitions of established businesses with strong brands, specialist expertise and established customer relationships. Transactions of this nature demonstrate the importance of experienced advisers such as Howes Percival who can work collaboratively across disciplines and keep the commercial objectives at the centre of the process.”
Dow Schofield Watts provided corporate finance advice to Brand K Group and Fladgate provided the buyer’s legal advice. Shawbrook Bank financed the acquisition and were advised by Shoosmiths.
For more information on Howes Percival’s Corporate Law team, visit: https://www.howespercival.com/services/corporate/