Bailey Street Furniture Group Acquired by CRoWD

Does finding the right buyer matter?

We knew from CRoWD’s acquisition profile, provided to us by Langcliffe International, they were a motivated buyer keen to break into the UK street furniture market. They also had the right vision, allied to a strong balance sheet and access to significant patient capital.

Our previous acquisition work for Ian gave us a clear understanding of Bailey Street Furniture Group’s (Bailey’s) business and that it was an excellent fit for CRoWD.

The last bit of the jigsaw for us was understanding if Ian was ready to sell and if the right price could be achieved for a satisfying exit for him. Once that was established we opened negotiations with CRoWD.

Frequent and open communication kept the deal moving forward over a 12 month process sorting through cross border due diligence and legal issues, a group re-organisation, share options, tax planning and improved trading that required an upwards adjustment to price late on.

However all parties persevered because the commercial fundamentals of the fit between the companies were established early in the process.

Bailey’s has great opportunities within CRoWD group and we wish the continuing team, and our client Ian, all the best for the future.

Paul Dodgshon – Business Partnership Corporate, Manchester and Cheshire

Our client’s views

I had worked with Paul on an acquisition project some years ago, so when he approached me saying he had a buyer looking to buy in my sector, I figured it was worth a coffee! As it happened, my business was exactly what the buyer was looking for. He had also confirmed CRoWD were well funded and had strong core ethics, which became more important as the deal progressed.

Paul’s initial concern was about my goals for a sale – price, legacy, time. Setting these out early helped later in the sale to retain my focus when the inevitable challenges of any deal arose.

I also found real value in having Paul’s experience to guide me through the challenges. It is an intense process and having balanced advice to help me retain my sanity was as we waded through the meetings, negotiations, legal advice, tax advice and due diligence. 

I will happily recommend Paul to any of my friends who are looking to sell.

Ian Bailey

Founder and ex owner of Bailey Street Furniture Group