Brand K Group has acquired Utopia Furniture in its tenth UK acquisition, adding another established British manufacturer to its growing portfolio of bathroom and radiator brands distributed through independent merchants and showrooms.
Utopia is a long-established British bathroom furniture manufacturer based in the Midlands. The multi award winning business has “built a strong reputation over more than 35 years for British design, manufacturing quality and service to retail and contract customers.” Every Utopia bathroom is “hand-built to order” at its manufacturing facility in Wolverhampton, with the business supplying a nationwide network of more than 600 independent bathroom showrooms as well as leading housebuilders through its contracts division.
The business is “proud of its British manufacturing heritage and has continued to invest in its people, production capabilities and approach to bathroom furniture design.” Its Midlands manufacturing base, skilled workforce, long-standing retailer network and established contracts channel, together with its focus on sustainable production methods, are all said to align strongly with Brand K Group’s wider emphasis on “quality, British manufacturing and responsible growth” as it continues to grow its portfolio of brands (see panel below).
Alex Norford, CEO of Brand K Group, commented: “When the opportunity to acquire Utopia arose, we were immediately excited by the chance to bring one of the leading names in the UK KBB industry into Brand K Group. Utopia has a proud heritage, a skilled team and a strong reputation across the market, making it an excellent addition to the group. We would like to thank Dave Conn, Ian Hall and Amanda Shepherd for the trust they have placed in us and look forward to working with Dave, Amanda and the senior management team as they continue to lead the business.”
Utopia MD Dave Conn said: “Ian and I founded Utopia more than three decades ago with a commitment to British manufacturing, product quality and the people who make the business what it is. Our passion for the highest quality products and service, as well as for always delivering on our promises, runs through the DNA of the business. Brand K was the obvious choice to build upon this legacy, while preserving the values and manufacturing expertise that have underpinned Utopia’s reputation for many years.
“We are excited about the future for our customers, suppliers and employees supported by this new partnership.”
Harry Walker from the Midlands office of Dow Schofield Watts provided corporate finance support to Brand K Group. Harry had also advised Brand K on its nine previous transactions, stating: “Having known Dave and Ian and the high-quality business they have built at Utopia for a long time, I was pleased to help facilitate the sale to Brand K. Utopia has a strong market reputation (demonstrated by the awards won and accolades bestowed on the company at numerous industry events) a high-quality team and a well-invested manufacturing facility, making it a highly complementary acquisition for the group. We were delighted to support Alex and the Brand K team again on a transaction that builds further on our experience in the KBB sector.”
A team from Fladgate led by Ravi Goonesena and Richard Gowing provided legal advice to Brand K, with financial due diligence provided by Paul Kithoray of Discovery Diligence. The shareholders of Utopia Furniture were provided with legal advice by a team from Howes Percival led by Gary Smith, with finance support from Ormerod Rutter. Shawbrook Bank provided Brand K Group with finance for the acquisition and was advised by a team from Shoosmiths LLP.
Brand K Group is based in Bedford with operations in Wigan, Leeds, Willenhall, Tewkesbury, Falkirk, New York, Qingdao and Almassora. It was established in 2008 by Alex Norford and the privately-owned supplier now employs more than 850 people and turns over in excess of £180m.
Kartell UK was the first company in the group and remains the largest, distributing radiators and bathroom fixtures and fittings under the K-RAD and K-VIT brands.
Since 2019, the group has acquired a series of UK-based manufacturers, including Just Trays, Vogue UK, MX Group, Paladin Radiators, Carron Bathrooms and, most recently, Utopia Furniture.
