Silverfleet bought the business from West Coast Capital. Office is the second retail deal for the firm within two months, following the purchase of German catalogue business the Schneider Group.

As part of the deal, Office’s management will invest to acquire a stake in the business. Brian McCluskey will continue as CEO under the new ownership.

Says McCluskey, ‘The past seven years [under West Coast’s ownership] have been a rewarding challenge; the next seven should yield continuing opportunity as we look to further UK and potentially international expansion.’

Office’s total sales were £146 million last year, with pre-tax profits of £18.5 million.

The deal is the third from Silverfleet Capital’s current fund, which has assets of some €670 million.