Investment firm buys Julian Bowen

from Interiors Monthly November 2021

Retail

Investment group secures majority Julian Bowen deal

Swedish investment group Storskogen has acquired a majority stake in Julian Bowen as it looks to benefit from the growth in online sales.

Sales to online retailers made up 70% of Julian Bowen’s £34.9m turnover in the year to 30 June, helping to generate EBIT of £6.9m.

Emmett Lenaghan, Julian Bowen md and Mark Pickup, Julian Bowen buying director will remain in their existing roles.

‘We are delighted that Storskogen has chosen to partner with us. Its support and expertise will be highly beneficial as we continue to deliver our ambitious plans for the company,’ says Lenaghan.

‘Throughout our discussions, we have been immensely impressed with Julian Bowen, in particular its extensive e-commerce operations and capacity to innovate in partnership with customers and suppliers. Julian Bowen is an ideal partner for Storskogen, and we will continue to support the expansion of its flexible and dynamic customer offering,’ says Christer Hansson, Storskogen EVP and head of business area, trade.

‘Julian Bowen is exceptionally well positioned to benefit from the ongoing migration from bricks and mortar towards digital retail channels. We have extensive expertise in the B2B and B2C e-commerce space and are excited to partner with the existing Julian Bowen management team to develop these capabilities further,’ says Philip Lofgren, Storskogen UK ceo.

At the end of the second quarter of 2021 Storskogen had a portfolio of 91 investments – 25 of which were made in the quarter - across several categories, with annual sales totalling £495m.

Walk and golf day raise £21,000 Bensons boosts

senior team

David Tracey, Buzz Beds md has raised £11,114 for furnishing industry charity The Furniture Makers’ Company by completing the 192-mile Coast to Coast trail. The trail begins in St Bees, Cumbria and finishes at Robin Hood’s Bay, North Yorkshire.

Tracey finished the walk in 16 days, which translated to 487,000 steps and 14 pounds of weight loss. In total, he covered 25,300ft of elevation.

‘I’m so grateful to everyone who has sponsored me and donated to The Furniture Makers’ Company, a charity close to my heart. The support really did inspire me to get the job done, through some very challenging days, so thank you all.

‘It was a wonderful experience, and we met some great people along the way, both on the walk and at the small family businesses that hosted us, fed us and in some cases also helped us with our essential intake of hop-infused water.

‘I could not have completed the journey without my dear friend Steve Atkinson, my constant companion for 16 days, whose positive can-do attitude and, when needed, tough love got us both through to the end,’ he says.

Meanwhile Barker and Stonehouse’s annual golf day raised £10,000 for the Furniture Makers.

‘The visibility of the charity among people in the trade has increased significantly over the past 18 months, due to the impact of the pandemic, resulting in us awarding more money than in any other commensurate period in our history,’ says Paul von der Heyde, The Furniture Makers’ Company chairman of trustees.

‘The money raised from events will go towards providing this vital support service to those in the industry who have fallen on hard times.’

Atkinson and Tracey celebrate completing the walk Bensons for Beds has strengthened its management team, naming Mandy Winser as coo. She joins from Swissport where she was regional operations director. She has previously worked at Kingfisher, B&Q and Marks & Spencer, where she had roles in logistics, operations and customer services.

‘Mandy’s experience and knowledge will support our transformation and growth plans as we go through a period of exciting top-tobottom change,’ says Mark Jackson, Bensons ceo.

‘I’m delighted to be moving back to retail, to a brand as well respected as Bensons for Beds. I’m passionate about putting the customer at the heart of operations and I can’t wait to meet the teams who make it happen,’ says Winser.

In August, Nick Collard joined Bensons as chief commercial and digital officer.

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