Ward Hadaway advises on Arthouse secondary MBO
21st October, 2015
Law firm Ward Hadaway has advised home decoratings specialist Arthouse on a secondary management buy-out.
Corporate solicitors from the Top 100 UK firm provided legal advice to the management team at Arthouse on private equity house NorthEdge Capital taking a majority stake in the business on the exit of Total Capital Partners.
Ward Hadaway had advised Arthouse on the original management buy-out of the company, which was backed by Total Capital Partners, in 2007.
Arthouse is based in Rossendale in Lancashire and is one of the largest providers of wall coverings and home decoration products in the UK, supplying to major retailers including B&Q, B&M, Wilko and Homebase.
Following the secondary MBO, the company is looking to further strengthen its position in the UK and expand into overseas markets.
Katherine Hay-Heddle, Corporate Partner at Ward Hadaway, led the firm’s team advising the management of Arthouse on the secondary MBO. Support was provided by the firm’s specialist employment team.
Katherine said: “We are delighted to have assisted the management team at Arthouse on this successful transaction, which sees the company receive significant backing from NorthEdge Capital.
“I advised on the original MBO of Arthouse in 2007, so it was particularly pleasing to be able to play a part in another important stage in the company’s development.
“Our experience and knowledge of Arthouse’s operations and the excellent working relationship which we have developed with the company’s management team over the years helped in the transaction process.
“Arthouse has some exciting plans in the pipeline to further grow the business and we wish the team every success for the future.”
Anita Kenyon, managing director of Arthouse, said: “Katherine and the team at Ward Hadaway have proved to be superb legal advisers over the years so when it came to this important move for the company, we had no hesitation in calling on their services again.
“Their expertise in the private equity sector and the strong working relationship they have established with us proved to be the ideal combination in achieving a successful completion on the deal.
“We are now in a strong position to embark on the next stage of our development and NorthEdge’s funding will enable us to further upscale our service offering and target overseas expansion, allowing Arthouse to reach an even wider range of customers both at home and abroad.”
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