GCA Altium advises Sofology on its sale to DFS Furniture plc
Sofology, the specialist sofa retailer, has a strong technology-led omni-channel retail approach operated through its network of 37 stores and transactional website. Following over £5 million of investment in technology development over the last 18 months, it benefits from innovative retail solutions in omni-channel tracking and attribution, visualisation technology and personalised marketing content delivery.
Driven by its differentiated brand proposition and investment in technology and stores, Sofology has grown well recently with overall revenue growth of 5% over the six months to 30 June 2017. Sofology reported revenue of £143 million over the twelve months ending 31 December 2016.
DFS is the market-leading retailer of living room and upholstered furniture in the United Kingdom, with reported revenue of £756 million over the twelve months ending 30 July 2016.
Bill Holroyd, Chairman of Sofology, commented: “I have been thoroughly impressed with the way that GCA Altium have navigated this complex and multi-faceted deal. At every stage of the process we were advised by the senior partners, never feeling that we were being ‘passed down the line’. The quality of the deal team who handled the nitty-gritty was equally impressive.”
Jason Tyldesley, Sofology CEO, said: “The team from GCA Altium showed incredible focus and delivered the best deal possible for the business. They were fully committed and great to work with.”
Phil Adams, CEO of GCA Altium, commented: “This marks another high profile transaction for us in the consumer sector, following on from the sale of Breitling to CVC and the acquisition of PrettyLittleThing by boohoo.com.”
Christopher Jones, Managing Director at GCA Altium, said: “It has been a pleasure to advise the shareholders of Sofology on this landmark transaction. With its innovative approach to retail, Sofology has achieved sector-leading growth rates and we have little doubt that the business will thrive under DFS’s stewardship.”
Completion of the acquisition is conditional upon the receipt of clearance from the Competition and Markets Authority and the Financial Conduct Authority.