Convex advises on BiGDUG sale to TAKKT.
Convex advised BiGDUG, the leading online and direct-marketing specialist for warehouse equipment with an emphasis on storage solutions, racking and shelving products, on a sale to TAKKT AG, a listed German group specialising in B2B omnichannel distribution for business equipment.
BiGDUG – https://www.bigdug.co.uk
TAKKT – https://www.takkt.de
TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than one million products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group has over 2,500 employees. The company is listed on the SDAX and Deutsche Börse Prime Standard.
TAKKT acquired BiGDUG through its subsidiary KAISER + KRAFT EUROPA GmbH, BiGDUG will now become a part of TAKKT Europe’s Business Equipment Group.
This strategic transaction deepens Convex’s expertise in business & industrial equipment sector M&A advisory.
Based in Gloucester, BiGDUG is a leading and established specialist in the online sale of business equipment, with an emphasis on storage solutions, and racking and shelving products. In just over a decade the company has grown to become the largest online retailer of shelving, racking and storage products in the UK. It now sells more than 20,000 storage products to over 250,000 customers.
“The acquisition of BIGDUG is an important milestone in our portfolio strategy to further strengthen our online activities and is therefore an ideal addition to our current businesses”, commented Felix Zimmermann, CEO of TAKKT AG.
BiGDUG has been able to build a loyal customer base in the UK with innovative marketing campaigns and a target group-oriented product range. “Since its foundation in 2004 BIGDUG has enjoyed very strong and profitable growth,” added Claude Tomaszewski, CFO of TAKKT AG.
To acquire a 100per cent share of BiGDUG Ltd, a purchase price of £19million was paid upon completion of the transaction. In addition, a further potential purchase price component of up to £6.3million is attainable based upon performance goals over the next three years, payable in 2018.
Previous owners, Doug Nourse and Jon Powell, will continue to be responsible for the future development and strategic direction of the company following the transaction.
Doug Nourse commented: “We’re excited to have found such an ideal purchaser for BiGDUG, and they will help facilitate our further growth. This will be great for Gloucestershire and is sure to provide a positive economic impact on the company who are a leading employer within the county.
Convex acted as sell-side advisor to BiGDUG, supporting the shareholders throughout the transaction process, identifying TAKKT as the strategic acquirer and negotiating the deal to completion. This is one of several deals Convex has advised on in the business equipment sector.
“Convex approached us, understood our business, found a strategic buyer and delivered a deal beyond our expectations. They are the real deal.”
Doug Nourse, Founder
