Shortly after confirming the sale of Dreams to Tempur Sealy (see related), investor Sun European Partners, LLP has announced that its affiliate has agreed to sell fitted bedroom and home office storage specialist Sharps to funds advised by Epiris LLP.
Omnichannel retailer Sharps was founded in 1973, and is headquartered in Bilston, West Midlands.
Sharps' CEO Kevin Smith says: “Our partnership with the Sun European team has been a great success. We are extremely proud that, today, Sharps is the number-one market player in the bespoke fitted bedroom furniture market. At Sharps, we focus on delivering a customer-first strategy with our bespoke fitted furniture products, providing unique, space-efficient solutions. This focus, combined with Sun European’s strong operations team and capabilities, has enabled us to establish Sharps as the well-known and highly regarded brand it is today.”
Together with Sharps' management team, Sun European has made significant operational improvements at the company, with gains made in product development and D2C marketing.
Paul Daccus, MD, Sun European Partners, LLP, comments: “We have thoroughly enjoyed our partnership with Sharps and working alongside its experienced and highly motivated management team with an exemplary historical track-record of growth. Operating in an attractive growing market, Sharps’ unparalleled product offering and customer-centric sales model, coupled with our operational experience, has enabled the business to significantly increase its brand recognition and solidify its market-leading position. We are extremely pleased to have achieved such a positive outcome for Sharps and Sun’s investors.
“Having recently announced the sale of Dreams, the leading bed and mattress specialist in the UK, we are delighted that we have been able to rejuvenate the Sharps brand into the UK’s best-known fitted furniture brand. We are confident that the Sharps team will continue its growth trajectory and success under its new ownership."