01 April 2022
RSM UK has advised on the sale of The 1810 Company Ltd, a leading UK kitchen sink and tap supplier, to Schock GmbH, a German manufacturer of premium quartz composite kitchen sinks and supplier of high-end mixer taps.
Founded in 2009, 1810 has grown to become one of the leading suppliers of innovative kitchen sinks, taps and accessories throughout the UK. The company, based in Mold, North Wales, sells an extensive range of products exclusively to the trade with a focus on contemporary European designs.
Backed by European investment firm Triton, the acquisition of 1810 gives Schock the opportunity to expand its direct sales footprint in the UK, leveraging 1810’s market leading reputation.
RSM UK advised the shareholders of 1810, leading key negotiations and providing strategic advice on the commercial terms, as well as project managing all aspects of the deal through to completion. The transaction was led by Corporate Finance Director Connor Agnew, with support from Ollie Currie and Henry Crane.
Gareth Williams, Managing Director, The 1810 Company Limited, said: ‘With a headline price already agreed between the principals, it was clear we needed a dedicated lead adviser to manage the deal through to completion. The RSM team quickly got up to speed with the terms of the deal, identifying a number of outstanding commercial aspects that needed to be addressed. RSM led on all key negotiations and provided a constant balanced commercial opinion. Ultimately, RSM’s advice was fundamental to the outcome of this deal.’
Connor Agnew, Corporate Finance Director RSM UK, commented: ‘This was a genuinely fascinating deal to be involved in. Gareth has built an incredibly successful business in its own right with 1810 now being rightfully regarded as a market leader. Schock’s acquisition of 1810, the combination of both brands, and Gareth and the 1810 management team remaining in situ, is a powerful statement to the market. This deal provides Schock with a new route to market, a leading presence in the UK and a platform from which to build on.’