True Capital acquires The Cotswold Company

Under its new ownership model, the business will look to expand by the addition of new showrooms and the expansion of its product range.

According to a statement, Gordon Segal, the founder of US furniture retailer Crate&Barrel whose family office is an investor in True Capital, will "play an active role" in The Cotswold Company.

The deal value remains undisclosed, though True Capital typically makes investments of £10-40m.

The transaction marks the third investment for the GP's maiden fund, which held a final close in November 2015. Last year, it acquired Preston-based Ribble Cycles from its family owners and joined Venrex in a $2.5m round for online craft community LoveCrafts.

Debt
RBS's corporate transactions team provided a senior debt package to support the deal, alongside working capital lines.

Company
Headquartered in Norwich and founded in 1996, The Cotswold Company is an online furniture retailer. In the year ending February 2016, the business generated a turnover of £29m with profits before tax of £2.49m. The company also has a showroom in Norwich.

People
True Capital – Matt Truman (co-founder, CEO).
The Cotswold Company – Kevin Johnson (CEO).

Advisers
Equity – PwC, Jones Day (corporate finance).
Company – Livingstone, Simon Cope-Thompson, Gavin Orde (M&A); JDC Corporate Finance (corporate finance); Pinsent Masons (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom