RSM's M&A and private equity team has successfully advised on the sale of Southdown Kitchen Furniture Limited (Manhattan Kitchens) to Sweden-based kitchen manufacturing group Ballingslöv International.
With over 60 years of trading, Manhattan has grown to become a leading provider of kitchens to the UK housing market. The business was acquired by Ballingslöv International, a subsidiary of Stena AB, one of Sweden’s largest family-owned companies.
The acquisition complements Ballingslöv’s reputation in the kitchen manufacturing market and strengthens their existing UK operation, Paula Rosa. Post-deal, the enlarged European kitchen and bathroom furniture group will look to build on its successes, with former Manhattan executive chairman Iain Flitcroft heading up the Group’s UK operations.
What RSM did
RSM conducted extensive global research, identifying and approaching a handful of carefully selected potential buyers, ultimately concluding negotiations with Ballingslöv International. Working closely with the shareholders, the team led the negotiations and project managed the cross-border transaction to completion.
'This acquisition will open up new opportunities for the business as a part of a larger multi-national group, as well as benefitting our customers. The RSM team supported us tremendously, picking up all the various workstreams and maintaining momentum to hit the timetable, which allowed us to focus on building a strong relationship with Ballingslöv.'
Ian Flitcroft, UK Managing Director, Ballingslöv International
Kirsty Sandwell, Partner
Natalie Ord, Associate Director
Stephen Findlay, Executive
Gemma Legg, Executive