Deal for web furniture firm
Multi-million agreement sealed
A company that employs 40 people at Heathhall has been sold in a multimillion pound deal.
Online office furniture firm Equip4work has been bought by SDAX and TAKKT AG.
Equip4work, founded in 2004, specialises in the sale of office furniture online including under the brand Office Furniture Online.
Over the past year the company generated almost £40million in sales including items such as desks and chairs as well as other business equipment.
As well as the HQ at Tinwald Downs, a further 11 people are employed at the main distribution centre in Stafford.
Felix Zimmermann, chief executive of TAKKT AG, said: “OfficeFurnitureOnline is a great addition to our new Newport Group. This is the next step in our strategy to strengthen online activities.”
Equip4work will continue to be managed over the next three years by Martin and Michael Hutchinson, part of the family who founded the company.
Martin Hutchinson said: “We are happy to have found a partner in TAKKT who will help us to continue and expand the strong growth of recent years.
“We believe that the co-
operation and exchange with other companies of TAKKT and the Newport Group will provide many exciting opportunities for both sides and help us expand on our strong growth of recent years.”
Key figures From left, Derek Hutchinson, Michael Hutchinson and Martin Hutchinson with Felix Zimmermann and Franziskus Josten of TAKKT AG