LONDON, February 11, 2015 — King & Spalding advised private equity firm Promethean Investments in relation to the purchase of leading UK sofa company Sofa Brands International (SBI).
Promethean Investments – a private investment firm established and chaired by former Bank of Scotland chief executive Sir Peter Burt – led the deal for a group of investors and SBI’s management team, which purchased the business from a consortium that included Barclays and Merrill Lynch.
SBI is a leading UK sofa group that is best known for its Parker Knoll, Duresta and G Plan brands. The company also offers its products through major retailers, including John Lewis, House of Fraser and Harrods.
A team from King & Spalding’s London office represented Promethean Investments on the transaction. The team was led by corporate partner William Charnley and included Susanna Beard (associate) and Ilan Kotkis (senior associate).
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