Sentio has advised Wolseley plc on its acquisition of a substantial shareholding in BathEmpire.com, a leading B2C online bathroom retailer in the UK, with an option to acquire the remaining equity stake at a future date. The acquisition gives Wolseley a strong position in the UK B2C online bathroom market and a scalable platform to support future growth.
BathEmpire.com was founded in 2007 by entrepreneurs Chris Lee (pictured) and Vicky Wang and has 150 employees. In the year ended 31 December 2014 the business generated revenue of £26 million and in July 2013 it secured an £8.5m investment from Living Bridge, who have now sold their shareholding in full.
The company has featured in The Sunday Times Virgin Fast Track 100 for three consecutive years and was placed at 64 in the latest rankings after sales to December 2013 rose by 59 per cent.
Commenting on the acquisition, Ian Meakins, CEO of Wolseley plc, said: “The UK B2C online bathroom market is growing rapidly and BathEmpire.com gives us an established brand with a scalable platform and the opportunity to build a significant presence over time.”
