RSM successfully completed vendor due diligence in respect of the disposal of Watch Shop Limited to luxury jewellery retailer Aurum Holdings Limited.
Established in 1991 by father and son team Sham and Kishore Naib, Reading-based Watch Shop is a leading retailer of brand name watches in the UK and the first independent watch retailer to advertise on national television. Recognising the strength of Aurum, Watch Shop saw a natural synergy between the businesses that would facilitate the continued growth of their business.
What RSM did
RSM supported Watch Shop by providing vendor due diligence for 100% disposal of its share capital to Aurum Holdings, who saw Watch Shop as an excellent strategic fit with their existing business. Aurum is a portfolio company of Apollo Global Management the US-based private equity firm. Despite the acquisition, the businesses will continue to operate as separate companies.
'Thank you to the team at RSM- we were delighted with their assistance with the due diligence which led to a successful sale of Watch Shop. They took time to get to know the business and ensure their work was commercially focused. Overall, it was a very smooth process which proved to be a valuable component of the sale process.'
Sham Naib, Chief Operating Officer, Watch Shop
Rebecca Guerin, Partner, T: +44 (0)7932 668 919
James Killing, Director, T: +44 (0)7813 845 885
Andrew Choy, Executive, T: +44 (0)7800 617 305