Wed, 05 Oct 2016 | BUSINESS SALE
Blackbird Retail Holdings, owner of The Cotswold Company, has been acquired by True Capital for an unknown sum.
The Cotswold Company, one of the largest online furniture sellers, was purchased by Blackbird Retail Holdings in 2009. It is anticipated that True Capital will lead the company and accelerate its online growth in addition to increasing its showroom footprint across the UK.
Currently, the company receives over 100,000 orders every year and generates annual revenues of £35 million. With the online retail furniture industry reaching double-digit growth in recent years and expected to maintain growth of 13 per cent until 2020, the new owners are keen to continue that trajectory.
To cover the acquisition, the Royal Bank of Scotland’s Corporate Transactions team helped provide the debt package as well as additional working capital lines. Gordon Segal, founder of US-based $1 billion turnover furniture company Crate&Barrel, will play a significant role in the acquired Blackbird Retail Holdings.
In a statement, Matt Truman, CEO, and co-founder of True Capital, said: “As a sector-specialist firm, we aim to invest in retailers of the future and utilise our unique retail and consumer ecosystem to help accelerate growth.
“In The Cotswold Company, we identified a strong business exposed to the right structural growth trends, with excellent financial metrics, driven and executed by exceptional founders and a world-class management team. Gordon Segal’s involvement in this acquisition is another great example of our sector ecosystem, and I am sure he will prove to be a fantastic asset for the company going forward.”
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