Springboard advise on the sale of iconic British manufacturer Race Furniture to Northamptonshire furniture firm Ocee International.
About the deal
Race, based in Gloucestershire, has been at the forefront of the design and manufacture of seating for public spaces for over 70 years. Founded by Ernest Race to manufacture his own designs, the company still produces some of the most classic furniture of the post-war era, including the BA3 and the Antelope chairs. Race is well known for its range of expertly crafted auditorium products, concourse and stacking seating, with clients including 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. The range encompasses standard, customised and bespoke products.
Ocee International, which has just been listed in the Sunday Times Virgin FastTrack 100 fastest growing privately owned UK companies, is the parent company of acclaimed commercial furniture companies Ocee Design and Danish based Four Design.
Race Furniture were advised in the sale by Springboard partner Justin Sparks and Manager Jonathan Wright. Justin commented “We are delighted to have helped Stuart find a strategic partner to build on the success that Race has enjoyed. Race brings real 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.”
How we made a difference
- Identified and engaged with a number of strategic buyers;
- Managed a competitive sales process, obtaining a number of strong offers from interested parties;
- Advised and helped resolve a number of key commercial matters to help facilitate the transaction; and
- Project managed the process throughout to preserve value and secure a successful completion.
The Client on Springboard
“Throughout the whole process Springboard worked relentlessly towards making this fantastic deal happen. They are hugely knowledgeable and skilful in their approach and were able to negotiate the very best outcome for us; I could not recommend their services more highly.”
Stuart Finlator – Former Owner and Director, Race Furniture