Bulletin

MBO for £70m-turnover sofa maker

Cardiff-headquartered Sofa Brands International has been acquired in a management buyout backed by Promethean Investments, with banking facilities provided by Santander Corporate Banking, to maintain its relationship with the company. SBI boasts a 750-strong workforce in the UK at its manufacturing sites in Melksham, Wiltshire, Long Eaton in Nottinghamshire and Riddings in Derbyshire, whilst a further 300 members of staff are employed in the group's wholly owned facility in Alytus, Lithuania. Promethean Investments led an investor group in providing the equity and debt funding for the transaction.

 

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