Leeds-based Burdew joins Eastlake Group
One of the UK’s leading workplace interiors companies, the eastlake group, has strengthened its offering to customers by acquiring the Leeds-based furniture manufacturers, Burdew Contract Furniture Ltd.
The £800,000 acquisition is the second for the Group since an MBO by David Eastlake in 2003, and is the Group’s first foray into the manufacturing sector.
Burdew was established in 1974 and currently employs 28 people at its Leeds based premises. The company, which produces low volume, high quality furniture for many high profile clients such as the Commonwealth committee, last year reported a turnover of £2.8m and a profit of £150k. The eastlake group was a customer for over five years before the acquisition took place.
The eastlake group, formerly Georgesons, was subject to an MBO by David Eastlake in 2003. Since then, the organisation has gone from strength to strength, trebling turnover and number of staff. The Group carried out its first acquisition, of Belfast-based office interiors company cm3, last year.
Charlie Gallifant, managing director of Burdew, joins the board of the eastlake group. Gallifant commented: “At Burdew, we are excited by the acquisition and are confident that it is a positive step for both our customers and staff.
“The eastlake group is one of the most successful organisations in the workplace interiors sector and one of the fastest growing. Becoming part of this group will increase our flexibility and breadth of service that we are able to offer to customers.
“Burdew are very grateful for the continued support of all our dealer partners. The news was warmly welcomed by all and all have offered their continued support.”
No jobs are to be lost as a result of the acquisition and it is hoped that later this year the organisation will be looking to recruit more sales staff.
David Eastlake, CEO of the eastlake group, which recently announced a restructure and a projected turnover increase from £8m to £34m, said: “The addition of Burdew to the eastlake group of companies is one which we are extremely pleased with. This acquisition strengthens our presence in the north of England whilst adding another dimension to the service we are able to offer our customers across the UK.
“Burdew is a highly successful company with an impressive customer base. By bringing it on as part of the eastlake group we aim to continue the success of the company.”
Burdew was advised by the Leeds office of accountants, Mazars.
Steve Davies, partner at Mazars accountancy said: “For over 20 years, Burdew has built up a national reputation for quality and innovation in what is a very competitive sector. Sales have grown consistently at the firm, however following the deal, the opportunity to plug into eastlake’s established sales and distribution network presents a huge opportunity to boost market share further.”