Belfast-based W&R Barnett has acquired a majority shareholding in one of UK's largest manufacturers of fitted kitchens, bedroom and bathroom furniture. The company was founded in 1971, and is Barnsley-headquartered.
The Symphony Group, including The Symphony Group plc, was acquired for an undisclosed sum. The company operates under several brands including Laura Ashley Fitted Furniture, Gallery, Linear, Koncept and Urbano. It supplies products to private developers, social housing providers, merchants and independent retailers nationwide.
In 2024, Symphony recorded turnover exceeding £325 million and employs over 1,800 staff across four sites in Yorkshire and Nottinghamshire.
W&R Barnett, a fourth-generation family business established in 1896, has evolved from a grain merchant in Northern Ireland to a global group with operations in commodity trading and industry. The company is known for investing in successful businesses and prioritising employee welfare.
The Gregory family, current beneficial owners of Symphony, will retain a significant shareholding and remain involved at board level. Managing director Paul Whitehouse, who has been with the company for 23 years, will continue to lead the executive team.
William Barnett, CEO of W&R Barnett, stated: 'We are very excited to invest in the Symphony Group and look forward to working with the management team to continue its success and growth.' Whitehouse added that the investment would strengthen Symphony's position as a market leader and ensure "security to all our stakeholders".
The Gregory family was advised by Sentio Partners, with Ian Marwood continuing on the board as a non-executive director. Legal and due diligence support was provided by Macfarlanes, Walker Morris, KPMG and others. W&R Barnett was advised by a wide team including Davidson McDonnell, EY, PwC, McKinsey and Cushman Wakefield.
Source: www.thebusinessdesk.com