Seating manufacturer acquired in Birmingham-advised deal
A specialist furniture manufacturer based in the south Midlands has been acquired by one the UK’s fastest growing companies in a deal part-advised out of Birmingham.
Race, based in Gloucestershire, was established over 70 years ago. Founded by Ernest Race to manufacture his own designs, the company still produces auditorium seating.
Its work is featured in venues such as The National Theatre, The Royal Opera House, Oxford and Cambridge Universities, Gatwick and Stansted airports and many of the major conference centres in the UK.
It has been acquired by Ocee International, recently listed in the Sunday Times Virgin FastTrack 100 fastest growing privately owned UK companies.
The firm is the parent company of commercial furniture companies Ocee Design and Danish-based Four Design.
Stuart Finlator, director of Race Furniture, said: “I am very excited about the next chapter under Ocee’s ownership. With Ocee’s increasing focus on design and international markets, I believe that Race will continue to flourish as a world leader in public seating and that our incredible design heritage will bring a new dimension to the Ocee brand.”
Alistair Gough, CEO of Ocee International, added: “The acquisition of Race Furniture is a fantastic opportunity to have such an iconic British brand as part of the group and to enable Ocee International to establish a strong presence within the public seating sectors of auditorium and concourse furniture.”
Race Furniture was advised on the sale by Springboard partner Justin Sparks and manager Jonathan Wright.
Mr Sparks said: “We are delighted to have helped Stuart find a strategic partner to build on the success that Race has enjoyed. Race brings high-quality design-led solutions to Ocee. Once again, this deal demonstrates that successful businesses in the UK are attracting strong interest from strategic trade acquirers.”
