KBS Corporate advises on the sale of Sock Academy Limited to private investment company Jatania Holdings Limited
Sock Academy Limited is a Hertfordshire based, multi-award-winning designer and manufacturer of socks for an international client base. The company’s core products consist of innovative, giftware products in the form of quirky and colourful socks. They operate as three brands including United Oddsocks, Cockney Spaniel and Cucamelon. Through these brands, the company has been able to successfully offer a diverse range of products whilst maintaining clear brand identity for each of the three trading styles.
Since the company’s inception in 2006, Sock Academy Limited has grown considerably, penetrating UK and international markets and earning an excellent reputation in the giftware sector. This has led to the company winning multiple awards including the Giftware Association UK Gift of the Year, and the FSB Innovative Business of the Year.
The shareholders, Gary Schaffer and Paul Hughes, approached KBS Corporate with the sale of their business in order to realise the value they had built over the years to facilitate their retirement plans, whilst enabling further growth of the business.
During initial discussions it became apparent that Gary Schaffer and Paul Hughes were keen to source a buyer that would not only enable the business to continue to thrive and grow, but also provide a secure future for the staff to continue their great work. After an extensive research and marketing effort, Jatania Holdings, a London based family-owned company, were secured as the preferred bidder. Jatania Holdings are long term investors, with a strong family ethos and a reputation for growing businesses. It quickly became apparent that they were the ideal acquirer for Sock Academy.
Tom Eatough, KBS Corporate Associate Corporate Director, advised Sock Academy Limited and commented: “It was important to find a buyer with values that align with Sock Academy and their employees and I am pleased we managed to achieve this. Gary and Paul have built an impressive company and it was a pleasure to work with them on the transaction. I would like to wish all parties the best for the future.”
Gary Schaffer: “From day one Tom understood us as people, our love of our business and that it was the right time to exit. His understanding and appreciation that two ordinary people started a thing with a pound coin and a sheet of paper was inspirational. Tom worked hard to find a deal structure that benefitted everyone involved.”