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Eversheds advises Livingbridge on disposal of majority shareholding in Luxury for Less

  • United Kingdom

    06-03-2015

    Law firm Eversheds has advised leading UK private equity firm Livingbridge, and the management shareholders, on the disposal of a majority shareholding in Luxury For Less Limited to Wolseley Plc.

    Luxury for Less Limited, founded by entrepreneurs Chris Li and Vicky Wang in 2006, is an online bathroom products retailer which designs and sources its own product, supplying direct to consumers principally via its website www.bathempire.com.

    Livingbridge completed an £8.5m investment in Luxury for Less in July 2013. Since that time the business has moved into new premises in Nuneaton, more than doubling the size of its previous base, and providing the capacity to handle growth in product range and activity. This growth has been recognised by the Sunday Times Fast Track 100 in which Luxury for Less has been included for the last three years.

    The investment from Wolseley Plc, the world’s largest trade distributor of plumbing and heating products, and a leading supplier of building materials, will allow the management team to accelerate the next phase of their growth plans in the UK and internationally.

    The Eversheds team was led by corporate partner Mark Beardmore assisted by Theresa-Marie Stodell, Chris Archer and Colin Askew.

    Mark Beardmore commented:

    “This was an excellent deal for all parties which was completed in a relatively short timeframe. The Eversheds team thoroughly enjoyed the deal and we wish Chris Li and the rest of the team every success for the future growth of the business.”

    Matt Upton, Livingbridge, said:

    “We have enjoyed working with a capable and developing management team in delivering very strong growth whilst continuing to invest in the platform, which will see the business well positioned for the next phase of development.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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