Apr 06, 2020
Lexington is delighted to announce its role as lead corporate finance advisor to Emma Bridgewater Limited, the ceramics manufacturer and retailer, on its successful multi-million fund raising from BGF. The Lexington team comprised Gary Partridge, Thomas Edwards and John Tose.
Founded in 1984, Emma Bridgewater designs and manufactures hand-decorated pottery and a wide selection of home products. It was established by Emma after she was unable to find the right gift for her mother’s birthday and to this day the pottery products are handmade in a renovated 19th Century factory in Stoke-on-Trent.
The Company’s products are sold through its website, own stores, as well as wholesale customers such as John Lewis and Next. More recently, the Emma Bridgewater brand has diversified into glassware, stationery, picnic-ware, wallpaper and fabrics. Revenues have grown to over £20m in 2019, with EBITDA of over £2m.
The terms of the deal saw BGF invest £8m with HSBC also providing a debt facility of £2.5m. The funding will be used to support the Company’s continued UK growth along with exploring international opportunities in China and USA. The deal also sees Colin Porter, the former Chief Executive of Joules, join the Board as Non-Executive Chairman.
The Lexington team worked closely with Emma and the Management Team of Julia Cove-Smith (Managing Director) and Roy Balint-Kurti (Finance Director) to structure the transaction.
Julia Cove-Smith, Managing Director, said “The Lexington team provided the perfect balance of challenge and support in helping us successfully complete this transaction. They showed a deep understanding of a complex transaction with multiple parties, took the effort to get to know the business well and were always on hand to provide thoughtful, considered advice”.
Gary Partridge, Managing Director of Lexington said “Emma Bridgewater is an iconic British brand – it was a privilege for Lexington to be chosen to advise the Company. We enjoyed working with the whole team and building upon our track record of securing investment from the BGF from our prior deals to ensure the transaction progressed as smoothly as possible. We wish the Company all the best for the future.”
Michelmores provided legal advice to the Company and Bishop Fleming advised upon taxation matters.