SECTOR

Retail/e-commerce​

BUSINESS DESCRIPTION

UK based £100m turnover supplier of appliance spare parts and repair services to B2B and B2C customers, operating multiple own-brand recognised websites as well as running white-label websites for OEM’s. 

DATE

March 2023​

SITUATION

• Although historically highly profitable, market headwinds including Brexit, supply chain issues, Covid-19 related stock fulfilment issues, and credit insurance withdrawal compounded to create liquidity constraints in the Group.

• The Group had £33m of senior debt facilities.​

A&M ROLE AND OUTCOME

• In November 2022 the Group engaged A&M to commence an accelerated  M&A process. The opportunity was marketed extensively to financial investors and trade parties as part of a 12-week sales process. ​

• Following significant interest from both the trade and financial investors, Screwfix / Kingfisher plc were identified as the preferred bidder.

• The transaction completed via a pre-packaged administration sale, including the TUPE transfer of approximately 400 employees.​