KBS Corporate has successfully completed a deal for Manchester based Peel Mount Contract Furnishings Ltd, which has been acquired by David Phillips Furniture Ltd.
Established in 1979, and boasting strong year on year growth with a 2012 turnover figure of £4.2m, up from £2.8m in 2011, Peel Mount is a specialist contract furnishing business that offers a range of products and services including measuring, estimating, manufacturing, purchasing, delivery and installation, to a diverse customer base, with lucrative contracts in place with various universities, colleges, schools, local Authorities and residential establishments.
David Phillips, a specialist property services company, with branches in London, Manchester and Scotland, provides furniture packages, furniture rental, contract furniture, and interior design services to a UK wide customer base of landlords and property managers.
Having set up a division in 2012 to help address customers in the public sector and social housing market, the acquisition of Peel Mount, which completed on 6th September for an undisclosed sum, will fuel rapid strategic growth in this area. The Vendor is to remain as an employee for the foreseeable future and will play a vital part in maintaining the company’s strong performance.
Ryan Bilsborough, Deal Executive at KBS Corporate who advised Peel Mount in this transaction, said “Peel Mount was a great synergistic fit for acquirer David Phillips, allowing an opportunity to expand their geographical presence and increase their portfolio of services. The deal structure presented an ideal exit strategy for the Vendor, resulting in an all-round good deal for both parties, to whom I wish every success for the future.”