Essex-based premium shower screen designer and manufacturer MSCLUK Ltd (Majestic) has been acquired by Flair Showers Limited (Flair). The deal, that completed on 15 January 2021, was supported by Tees Law Corporate team and FRP Advisory.
The long-standing family firm and client of Tees Law, whose products feature in luxury hotels and residential developments across London and the South East, will now become part of Ireland’s oldest manufacturer of shower doors and bath screens. The deal is expected to generate significant growth opportunities for both businesses, with Majestic’s second-generation management team to remain in place.
Charles Kirk and Abigail Gallagher from Tees Law’s Corporate team advised on the deal, which allowed Majestic to build on its more than 50-year history and enabled Flair to see the potential to grow the business and expand on its excellent reputation and product range. Working closely with the management team at Majestic, Charles and Abigail, and FRP Advisory, secured a deal that met the shareholders’ expectations, with upside structures included for management to benefit from future growth.
Tom King, Managing Director of Majestic said: “We had a great experience from start to finish, I found Charles and Abigail offered clear and understandable legal advice, with both fully cognisant of the commercial drivers behind the deal. They explained legal risk in an easy to understand way and were willing to put the hard work in and correspond even at the most antisocial times.”
Lucy Folley, Partner and head of Corporate at Tees Law, said: “In addition to the uncertainty surrounding COVID-19 and Brexit, this was a complex and time-consuming transaction due to our client being set up as a result of a pre-pack administration, yet Charles and Abigail were able to offer detailed and timely advice to one of our long-standing clients. They have been extremely happy with our work and we wish them the best going forward.”
Dave Howes, Corporate Finance Partner at FRP, said: “Despite the ongoing uncertainty relating to the COVID-19 pandemic and the nascent impact of Brexit, this deal puts both businesses in a strong position to further the excellent reputation and range of products they have developed for more than half a century. Martin Murphy and the team at Flair Showers were quick to recognise The Majestic Shower Company’s potential for growth and I look forward to seeing it thrive with their support.”
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