Tue, 02 Jul 2024 | BUSINESS SALE
Sharps Bedrooms, a Bilston-headquartered fitted furniture retailer, has completed its second acquisition in the space of under a year. The firm has acquired under-stair storage and loft solutions provider Clever Closet.
The deal, which follows Sharps’ September 2023 acquisition of custom furniture company Fittingly, adds further capacity to the firm’s network of 31 showrooms across the UK. Following the acquisition, Clever Closet founder Paul Jacob will remain with the business to support the Sharps team.
Kevin Smith, Chief Executive of Sharps Bedrooms, said that Clever Closet “have become the clear market leaders in fitted under-stairs storage solutions.”
Smith continued: “We believe that our knowledge and installer base, combined with their clever product solutions will create significant growth across the UK.”
Clever Closet founder Paul Jacob added: “We are very excited about the opportunity to work with the UK’s market leader in fitted furniture, and this will help us grow our business even further.”
Sharps Bedrooms’ acquisitive activity comes during a busy period of transition for the company, which reported turnover of £135 million in the year to September 2023 – up 6 per cent from the previous year – and cut its pre-tax losses from just under £5 million to nearly £4 million.
The business is moving its sales model away from physical stores towards a digitally-led, online shopping format. Reflecting this, the company has closed a significant number of showrooms over recent years, with six being shuttered in the year to October 1 2023, following a further 21 closures the previous year.
This shift comes amid a consistent decline in in-person shopping since the COVID-19 pandemic, combined with wage and energy cost inflation.
Distressed acquisitions could be a valuable and cost-effective way for UK retailers to transform their businesses
This successful enterprise specialises in a wide array of mobility solutions from scooters to custom-configured wheelchairs and expert servicing.
FREEHOLD
An exciting opportunity to acquire a well-established curve and plus size fashion retailer located in two prime locations in South Yorkshire.
LEASEHOLD
This is an exceptional opportunity to acquire one of the largest independent Mercedes Benz dealerships in the Midlands, renowned for its expertise in servicing, repairs, and performance upgrades.
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.