FSP advises the shareholders on the sale of office furniture and design company, Portsdown Group Limited
The corporate team at Field Seymour Parkes has advised the shareholders on the sale of the entire issued share capital of Portsdown Group Limited to Showcase PSR Limited. The acquisition brings together two significant players in the office furniture, design space, creating formidable market depth, talent and opportunity for both groups of companies.
The Portsdown team will continue to trade from their bases in Portsmouth and Cambridge, with all members of staff remaining in post.
Director and selling shareholder William Kelly has said “I have worked at Portsdown for over 35 years – it has been a huge part of my life and I am both delighted and hugely proud of everything that we have achieved. The staff and business have been my family (literally in Leo’s case!) and I couldn’t be more thrilled to be passing on the reins to a company that shares our family ethos and values. I first met Nigel (director and shareholder of Showcase) over 15 years ago and he has been an excellent partner (and worthy adversary) in many business adventures. I have watched with great admiration as he has built Showcase into a furniture and design company with an outstanding reputation and an enviable market position. The merger of the two businesses offers great potential in the market and we are thrilled to be leaving the business in such an exciting place. I wish them all every success”.
On working with FSP, Paul Lelliott (director and selling shareholder of Portsdown) said “the most concerning aspect of the business sale comes from it not being your usual day to day business activity. A critical part of the process is the scope and predicted costs being clear and transparent, as is the undoubted ability to easily explain more technical legal items. FSP were exemplary on all these matters. Other than good legal advice on the transaction and agreement, the need to be responsive is also important. The team at FSP were always contactable, returning and making calls promptly and where necessary, swiftly arranging meetings on more technical items that required group attendance. I therefore have absolutely no hesitation recommending FSP for such transactions and agreements.”
The team at FSP was led by corporate partner Jeremy Parkes with assistance, Amelia Calder (paralegal, corporate), Katie Burley (senior associate, employment), Lauren Walker (associate, real estate).
