Host of Yorkshire advisors work on Luxury deal
A BRACE of Yorkshire advisors have worked on the sale of bathroom business Luxury for Less to plumbing and heating giant Wolseley.
Luxury for Less, trading as bathempire.com, was founded by Chris Li and college friend Vicky Wang in 2006.
Christian Mayo, who leads KPMG‘s Leeds corporate finance team, advised the shareholders of Birmingham-based Luxury for Less and Dave Irwin from Sentio Partners advised Wolseley, which has multiple retail outlets and operations in Yorkshire.
Eversheds was legal advisor to Luxury for Less shareholders.
Mr Mayo said: “This is a great example of a strategic deal, with Wolseley seeking to enter the bathroom products market through its acquisition of bathempire.com.
“Our sector insights, having advised Victoria Plumb last year on its sale to TPG, helped us to secure a successful transaction for bathempire.com, positioning it as an exceptionally attractive target, with its strong sourcing relationships and scalable online sales platform. Wolseley’s investment will allow the company to grow as part of the world’s largest trade distributor of plumbing and heating products.
“The deal is the latest demonstration of a large corporate acting on their growth ambitions and suggests M&A will be a prominent feature on boardroom agendas for 2015.”
