Kartell UK is one of the UK’s largest and fastest-growing suppliers of heating and bathroom products to the independent showroom sector, with an annual group turnover of more than £125 million. The company was looking to secure its supply of bathroom furniture through the acquisition of cabinet manufacturer Summerbridge. Headquartered in East Yorkshire, Summerbridge is one of the UK’s leading manufacturers of kitchen and bathroom cabinets and doors, supplying to manufacturers, contractors, developers and distributors. Kartell engaged FRP to advise them on securing the acquisition.
FRP’s Corporate Finance team approached the owners of Summerbridge off-market to initiate discussions about a possible acquisition. Once it was clear that there was potential for a deal, our team provided full buy-side support, including target appraisal, site visits, indicative valuation, offer structuring, and negotiating commercial terms. We project-managed the deal and all buy-side workstreams, from initial contact with the target business through to completion of the share purchase agreement.
The acquisition of Summerbridge represents the next chapter in Kartell’s story, with the group securing a supply of high-quality, British-made bathroom cabinets for its customers, and Summerbridge benefiting from investment by the group, while retaining operational autonomy. This was the fourth deal delivered by FRP’s Corporate Finance team for Kartell in three years, underlining the team’s ability to unlock off-market deals within the sector through extensive contacts and knowledge of the industry, as well as their skills in negotiating and project-managing transactions.
The acquisition of Summerbridge was the fourth deal delivered for Kartell by FRP in three years.