Sun European Partners Sells Furniture Group Sharps to Epiris
(Bloomberg) -- Sun European Partners has agreed to sell U.K. furniture company Sharps, its second major exit in a matter of weeks.
The private equity firm is selling the group to funds advised by Epiris for an undisclosed amount, according to a statement Monday. During its ownership, Sun shifted Sharps’s focus toward direct-to-consumer sales and advertising and made what it called “significant operational improvements” at the company.
The exit follows Sun’s disposal of bed and mattress specialist Dreams in late May. It also adds to a flurry of deals in the market for so-called secondary buyouts, where financial sponsors sell stakes to other private equity investors.
Founded in 1973 and based in the West Midlands, Sharps sells bedroom and home-office supplies. Sharps was saved from administration by Sun in 2011. The private equity firm put it up for sale in 2017, according to a Telegraph report at the time, before holding on to the business.
Sun was advised on the deal by DC Advisory.
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