With strong experience and contacts across the bathroom and building products industries, FRP’s Corporate Finance team were aware of the opportunity to acquire Vogue (UK) and UK Bespoke Products (together as Vogue), a specialist distributor and manufacturer of designer towel warmers and radiators. Vogue has traded for more than 30 years and is led by an experienced management team employing more than 80 people, and delivering over £14 million in annual sales. Our team had worked with Kartell UK, a leading distributor of bathroom and heating products, on a previous acquisition and financing and therefore FRP were well placed to identify the strategic value of the opportunity for Kartell UK and introduced it to them.
Kartell UK has a group turnover in excess of £110 million and employs more than 350 people. As the largest supplier of radiators and designer towel warmers to the independent sector in the UK, the company was keen to pursue the acquisition of Vogue, and engaged FRP to provide full buy-side advice and support on the project. Our team valued the targets, presented the offer to the sellers’ advisers and negotiated heads of terms before project-managing the acquisition to completion, supporting the commissioning of financial and tax due diligence, and liaising with all parties and their legal and financial advisers to ensure smooth progress.
Kartell UK acquired Vogue in a deal which will deliver significant investment in the company to support further growth in both the UK and internationally – where it has an existing presence in the US market – as well as enabling a wider range of products and services to be offered to both Kartell and Vogue’s customer base. Vogue will continue to be run by the existing management team, with ongoing advice from the retiring sellers and support from the wider Kartell UK group of companies, to the benefit of the customers of both businesses.
Kartell UK has a group turnover in excess of £110 million.