BPE Solicitors, in Gloucestershire, has acted for Bourton-on-the-Water based interior design wholesaler, Parlane International Ltd on their recent share sale to Gallery Direct for an undisclosed sum.
Parlane International, one of the UK’s top interior companies, has been designing and supplying home accessories to trade for the last 48 years. Based in the heart of the Cotswolds, the company has three showrooms to showcase their goods to fellow businesses.
Parlane also has an international reach with a Spanish subsidiary company, along with a worldwide network of stockists.
The share sale was a strategic decision for both parties, allowing Gallery Direct to expand their existing home accessories collection and complete interiors offering.
The deal saw Gallery Direct acquire all of Parlane International, including their subsidiary companies, but excluding their retail shop in Cirencester which will be retained by the previous owners and will be now known as The Cotswold General Store.
BPE’s Corporate team, led by Dale Williams and Kathryn Broughton, oversaw the sale, ensuring the full transaction of shares and transition of the previous trade shop. They were supported by the Property team, as well as the Employment team who assisted with the TUPE process, moving the retail shop’s staff to the previous owners’ new company.
Kathryn said: “Parlane is a prominent brand throughout the interior design industry and has been a well-known name in the Cotswolds for decades. It’s great to see that it’s longevity will continue under its new ownership. This was a unique transaction due to dynamics of the business but with our extensive experience we found a route that successfully worked for both parties.”
Michael Burgess, Managing Director of Parlane International said: “It’s not easy to step away from a business that you have grown for the last 48 years but we can rest easy that it’s in safe hands.
“It’s important to us that the business has the structure that Gallery Direct can offer going forward which will allow it to continue to grow and progress. The Corporate team at BPE diligently guided us through the whole process ensuring the best result for both us and the new owners. It was invaluable having a law firm onside that not only understood the business but also listened and took onboard our aspirations too.”