Mon, 14 Oct 2013 | BUSINESS SALE
Upmarket kitchen manufacturer Smallbone of Devizes is gearing up for a sale, after appointing advisers to explore its options.
Its owner, the technology entrepreneur Leo Caplan, has appointed Cavendish Corporate Finance to advise on a sale of Smallbone and its sister furniture business Mark Wilkinson, following four unsolicited approaches.
Smallbone and Mark Wilkinson are divisions of the group company Canburg, which could command between £60 million and £100 million in a sale.
It makes luxury kitchens worth about £60,000, as well as bedrooms, bathrooms, home cinemas and dressing rooms from its base in Devizes, Wiltshire. High profile customers have included Oprah Winfrey, Cheryl Cole, Robbie Williams and Dustin Hoffman.
The company has also built kitchens and furniture for new housing developments such as One 57 in Manhattan, and has also worked on developments in Dubai and Shanghai.
Mr Caplan bought Smallbone and Mark Wilkinson out of administration in 2009. Canburg is due to raise £32 million in revenue for this year.
He is confident that with new investment the business can skyrocket, and would be eager to keep a minority stake after a sale.
“We are a group that, given the right strategic partner, there is no reason why it doesn’t go on to be worth £500 million, £1 billion and become a global luxury group,” he told the Telegraph.
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