Gloucestershire-based kitchen worktop retailer Direct Online Services (DOS) will continue its growth under new ownership after it was acquired by Broadview Holding in a deal supported by Harrison Clark Rickerbys.
The company, founded by father and son Martyn and Will Rees in 2009, sells direct to customers across the UK and Europe, with a number of brands including Worktop Express. Its turnover has grown since 2016 from £22m to £37m, following investment by BGF, who have now exited.
Rich Wilkey, Rachael Reeves, Louisa Leach and Hannah Maidment from Harrison Clark Rickerbys worked on the deal – Rich said: “DOS have been clients for some time and we’re delighted to see their growth continue in this way. This is a great outcome for them after a period of investment and development – we wish them every success.”
Martyn Rees said: “The experience that HCR brought to the final negotiations was invaluable, from all the team involved – I cannot recommend them highly enough.” Will reinforced this, saying: “HCR have always felt like a part of our team – they have a real commitment to achieving the best deal possible for their clients. This, amongst other reasons, is why we truly value them as advisors. To deliver a deal to completion in such challenging circumstances was a fantastic achievement.”
DOS Chief executive Jon Shepherd said: “This is a very pleasing result for all shareholders and one that we have been working collaboratively to achieve. We are now pleased to be continuing our growth strategy with Broadview.
“The past month has been unsettling for all retailers, but our strong ecommerce platform has ensured that we’ve been able to continue to generate sales and demonstrate the robustness and resilience of the business model.”
Harrison Clark Rickerbys has more than 500 staff and partners based at offices in Cheltenham, Worcester, Birmingham, Hereford, Cardiff, the Wye Valley, Cambridge, the Thames Valley and central London, who provide a complete spectrum of legal services to both business and private clients, regionally and nationwide. The firm also has a number of highly successful teams specialising in individual market sectors, including health and social care, education, technology, agricultural and rural affairs, finance and financial services, defence, security and the forces, and construction.