Springboard advise on the sale of iconic British manufacturer Race Furniture to Northamptonshire furniture firm Ocee International.
About the deal
Race, based in Gloucestershire, has been at the forefront of the design and manufacture of seating for public spaces for over 70 years. Founded by Ernest Race to manufacture his own designs, the company still produces some of the most classic furniture of the post-war era, including the BA3 and the Antelope chairs. Race is well known for its range of expertly crafted auditorium products, concourse and stacking seating, with clients including The National Theatre, The Royal Opera House, Oxford and Cambridge Universities, Gatwick and Stansted airports and many of the major conference centres in the UK. The range encompasses standard, customised and bespoke products.
Ocee International, which has just been listed in the Sunday Times Virgin FastTrack 100 fastest growing privately owned UK companies, is the parent company of acclaimed commercial furniture companies Ocee Design and Danish based Four Design.
How we made a difference
- Identified and engaged with a number of strategic buyers;
- Managed a competitive sales process, obtaining a number of strong offers from interested parties;
- Advised and helped resolve a number of key commercial matters to help facilitate the transaction; and
- Project managed the process throughout to preserve value and secure a successful completion.