Upmarket furniture retail company Willis & Gambier has been acquired in a management buy-out worth £55 million. The management team, led by founder Nigel Gambier and Bank of Scotland Integrated Finance, funded the deal with debt and equity.

Upmarket furniture retail company Willis & Gambier has been acquired in a management buy-out worth £55 million. The management team, led by founder Nigel Gambier and Bank of Scotland Integrated Finance, funded the deal with debt and equity.

Willis & Gambier designs and distributes wooden bedroom and dining room furniture, and has clients including John Lewis, House of Fraser and Marks & Spencer.

The company has more than 100 staff. It generated a £25.7 million turnover and profit after tax of £2.7 million for the year-end December 2005.

Berwin Leighton Paisner was legal adviser to the management team, while Grant Thornton advised the existing management and the exiting shareholders. Osborne Clarke and Deloitte acted for Bank of Scotland Corporate.