Leeds’ Southerns Group boosts employees to 200 with strategic acquisition

Southerns Group, the Leeds-based FF&E and workspace interiors specialist, has acquired Broadstock Office Furniture Ltd.

The deal creates a new integrated provider to the commercial, educational, governmental and wider business sectors.

The acquisition will result in Southerns having revenues of over £40m in the current financial year, and over 200 employees.

Southerns Ltd acquired its namesake based in Bolton, and Ralph Capper Interiors Ltd, based in Manchester, in March 2015 to create a group that saw revenues grow to over £18m in the year to June 2016.

This followed an equity investment in the the business by Knaresborough Investments, the private equity vehicle established by Steve Parkin, founder of the Clipper Group.

Southerns Group provides commercial workspace solutions, offering design, installation and lifecycle of furniture and associated facilities.

Broadstock is headquartered in Macclesfield, and Middleton, where it has extensive operational and client facing facilities.

Andy Kendall-Jones, Southerns’ chief executive, will continue to head the combined business. Nick Munsch, who together with other family members were the majority shareholders of Broadstock, will continue within the business.

Andy Kendall-Jones commented: “We are delighted to welcome Broadstock to the Southerns Group. Its people and infrastructure will add significant capability to the wider group, and we look forward to working with Nick and his team to continue to take the business forward.”

Nick Munsch added: “We are delighted to become part of an enlarged group and are looking forward to embracing the benefits that will be available to us all, the combined knowledge experience and skills will benefit everyone involved.

“Although we have been competitors over many years it has been a real pleasure working through the deal with everyone at Southerns.”

Funding for the deal was provided by Santander, and Southerns were advised by Blacks solicitors. Broadstock were advised by Rickitt Mitchell and Weightmans solicitors.