Russell-Cooke’s corporate and commercial team advised the founders of BiGDUG Limited, one of the UK’s largest shelving, racking and storage retailers, on the sale of the entire issued share capital of the company to KAISER + KRAFT EUROPA GmbH, a subsidiary of German plc Takkt AG.
The sellers received £19 million in cash upon completion of the transaction, with a further £6.3 million to become payable in 2018 if pre-determined performance goals are achieved.
The Russell-Cooke team was led by partners David Webster and Scott Leonard, assisted by Christopher Williams, senior associate, and associates Simon Ewing and Bethany Silkin.
Travers Smith acted for the purchaser.
Co-founder of BiGUG, Doug Nourse, said of the sale “We’re excited to have found such an ideal purchaser as TAKKT for BiGDUG, and they will help facilitate our further growth to make BiGDUG even bigger.”
Based in the South West of England, BiGDUG is a leading specialist in the online sale of storage solutions and other business equipment. Founded by Doug Nourse and Jon Powell in 2004, it now generates a turnover of approximately £19 million.
TAKKT Group is the market-leading B2B direct marketing specialist for business equipment in Europe and North America. TAKKT has nearly three million customers in over 25 countries around the world.
David Webster commented on the case, “There seems to be a clear strategic fit between TAAKT and BiGDUG, and the continuing involvement of the founders in the business after completion should ensure this is a successful deal for all concerned. The transaction is another example of Russell-Cooke’s strength in managing substantial corporate deals with an international element.”
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