Price Bailey, has advised the management of Hunters Contracts Limited, the leading independent furniture specialist, on their acquisition of the business.
The deal will see the business acquired from original founders, Martin Playell and Gary Thomas, with Gary temporarily remaining in the post as Managing Director to smooth the transition to the new management team. The management team consists of Norman Campbell (Financial Director), Stef Brennan (Sales Director), Lewis Harman (Director of Architects & Designers), and Rob Cannon (Client Services Director). Finance is being provided by RBS.
Stef Brennan, Sales Director of Hunters Contracts, comments: “The management team taking over the reins of the business collectively has 70 years’ industry experience. This deal represents a seamless continuation of the Hunters Contracts success story and ensures the business remains in the hands of the experienced management team which has an established track record of delivering growth for the business and a strategic plan to expand in the UK and international markets. The strong culture that makes Hunters such a great company will continue to be a major focus moving forward.”
Hunters Contracts has for 30 years been a leading independent furniture consultant. It provides services to a range of international clients, with projects completed in high profile locations such as The Shard, The Scalpel and 1 Canada Square. With customers as diverse as Selfridges, Saatchi & Saatchi and the Natural History Museum, the business is highly experienced in delivering carefully tailored solutions to suit individual needs.
Sales grew in 2018 by 65% to £37m, partly driven by strong international growth, with projects completed in Europe, Singapore and Hong Kong. A long-standing client of Price Bailey, Hunters Contracts employs 50 staff. The company was recently named ‘Furniture Provider of the Year’ at the Mixology awards, the UK’s most prestigious awards for the interior design community.
Stephen Reed, Partner at Price Bailey, says: “We are delighted to have supported the management of Hunters Contracts on this MBO, which will ensure the longevity of the business as the highly experienced management team become the new owners and guide the business through its next stage of growth.”
The management team were also supported by Adam Jones at Birketts LLP.