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equip4work
Equip4Work operates the OfficeFurnitureOnline.co.uk website
German office furniture group Takkt has agreed to buy privately-owned British online furniture retailer Equip4Work for £35 million.

 

The deal, announced to the Frankfurt Stock Exchange by the Stuttgart-based mail-order business today (Jan. 30), includes an earn-out agreement that could see Takkt pay up to £10 million more if profit targets are hit over the next three years.


Equip4Work retails desks, chairs and cabinets online to both domestic and commercial customers, and also operates the OfficeFurnitureOnline.co.uk website. It does most of its business with SMEs.


The company — based in Dumfries and until now owed by Martin and Michael Hutchinson, who remain with the business — generated sales of £40.1 million and pretax profits of £4.0 million to end March 2017.

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