In a deal involving a host of Yorkshire based advisers, including legal adviser DWF, the transaction sees Kudos, founded in 1999 by Bruce Ledwith and now a leading manufacturer of shower enclosures and tray systems with operations in Cumbria and South Africa, become part of SanSwiss, a major European manufacturer of shower enclosures and shower screens with a presence in over 17 countries.
The acquisition of Kudos continues to build on SanSwiss’ strategy for achieving growth throughout Europe. Co-Managing Directors Olivier Gunther and Sebastian Hainz commenting ”Kudos is a well-known brand with an outstanding reputation in the UK. With Kudos, we are further expanding our core competence and performance in shower enclosures, shower screens and trays for our partners and customers in the whole of Europe.”
Kudos outgoing Group CEO and founder, Bruce Ledwith, who will remain with the company in a consultative role for the foreseeable future, commented: “After 23 years, it was not only time to take a step back, but to consider the long-term future of Kudos. The SanSwiss investment provides security, significant growth opportunities and a strong commitment to maintaining and expanding our manufacturing facilities within the UK”.
Dave Irwin of Sentio Partners, who has been a non-executive director at Kudos for the past 8 years, commented “Bruce and the team have built a business with quality and innovation at the heart of everything it does. There is so much future potential, which we are confident will be realised with the combined skills and resources of Kudos and SanSwiss. I have no doubts that this deal offers an exciting future for the business and its employees.”
Andrew Barlow of Sentio Partners added: “From the first conversation with the Sanswiss team, the cultural and strategic fit with Kudos was clear. The sale represents fitting reward for Bruce as founder and the Management team who have built a platform with a huge opportunity for continued growth as part of the Ronal group.”
The Shareholders were advised by Sentio Partners (Dave Irwin & Andrew Barlow), DWF legal (Wendy Harrison, Amy Woodfine, James Cashman) and Mazars tax (Chloe Ellis & Jamie Rhodes).
Sanswiss advisors included Goetzpartners who provided corporate finance advice, CMS (Howard Gill, James Crossman) and EY (Louise Smith, Tom Holroyde) who provided financial due diligence.