LANCASHIRE BASED FABRICS FIRM SOLD IN £40 MILLION
PLUS DEAL
Husband and wife team Lee and Emma Clarke have
celebrated the successful sale of their Haslingdenbased interiors business, Clarke & Clarke, to luxury
interior furnishings group Walker Greenbank Plc, in
a deal which could be worth as much as £42.5m. The
sale represents the latest chapter in a remarkable
growth story for Lee and Emma Clarke who started the
business themselves in 1999, and have rapidly grown
it to become one of the leading names in the home
furnishings market, with a reputation for quality
fabric and cutting edge design.
In 2015, the business generated revenues of £22.4m
and EBITDA of £3.8m, and it continues to demonstrate
strong growth thanks to its enduring focus on
producing vibrant, fashion-led designs out of the firm’s
design studio in the rural Cheshire countryside. This
growth is reflected in the headline price achieved for
the business which represents an impressive return for
the Clarkes, and has been seen as a significant feather
in the cap for the Northwest deal market.
Clarke and Clarke were advised on the deal by the
Seneca Corporate Finance team, led by experienced
corporate financier Gordon Lane. On completion
of the deal, Gordon commented “Lee and Emma
have built a first class business; the Clarke & Clarke
brand is highly regarded and complements Walker
Greenback’s existing portfolio. With the support of
Walker Greenbank and a strong management team I
am confident the business has a bright future.”
“Over recent years we have grown Clarke
& Clarke into a successful, internationally
recognised, design-led brand in the home
furnishings market, something we are
extremely proud of”
For Walker Greenbank the deal represents an
opportunity to tap in to Clarke & Clarke’s international
presence which already sees the business export to
over 80 countries. John Sach, chief executive of Walker
Greenbank, said, "Clarke & Clarke will add significantly
to our product offering, customer base and US
presence and also create collaborative opportunities.
Clarke & Clarke has a strong track record of growth and
its acquisition will be materially enhancing for Walker
Greenbank in its first full financial year."
The Seneca Partners Limited Corporate Finance Team are experienced
advisers specialising in deals in the range £5 million to £100 million
(mid-market transactions). We advise entrepreneurs, shareholders and
institutions as well as corporate clients. We have expertise across a broad
range of sectors, and advise on disposals, management buy-outs, buy-ins,
fundraisings, acquisitions and strategic issues. Our team collectively has
advised on over £1billion of transactions. For more information contact a
member of the team on 01942 295 983.
The deal underlines the current strength of the sector
and Lane does not expect this to be the last deal of this
kind. “There is no doubt that this is being viewed as
a benchmark deal and following the announcement
we have been speaking with a number of businessowners and investors who are keen to capitalise on a
buoyant market.”
ONSIDE WINTER 2016 |
Following the completion of the deal, Clarke & Clarke,
continues to be led by Lee Clarke as CEO and far from
resting on his laurels he has ambitious plans for the
future as part of Walker Greenbank, "Over recent
years we have grown Clarke & Clarke into a successful,
internationally recognised, design-led brand in the
home furnishings market, something we are extremely
proud of. With Walker Greenbank's support and
resources, I am excited about our plans for the future
and the next stage of our journey."
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