Independent, specialist designer outlet chain Chapelle Jewellery has been sold to investment firm and owner of the HMV entertainment retail group, Hilco Capital in a deal managed and initiated by Smith Cooper.
Chapelle Jewellery, which operates 24 stores in designer outlet villages and a successful ecommerce website, is the largest jewellery retailer specialising in selling end of season jewellery and watches at discounted prices.
Smith Cooper’s Corporate Finance team members John Farnsworth and David Crump acted as lead advisers to Paul and Margaret Mortimer, founders of Chapelle Jewellery. Legal advice was provided by Ran Oren and Martyn Brierley of Flint Bishop, whilst Natasha Smith, Partner at Smith Cooper provided tax advice.
John Farnsworth commented: “This transaction is a significant milestone for Chapelle Jewellery, which comes after a long and successful period of ownership. The sale to Hilco Capital and the opportunities it will generate will position the business for many more years of growth. We’re delighted that Paul and Margaret engaged us to assist them in the sale of their business.”
Head of Corporate Finance, Ran Oren, of Flint Bishop comments “Paul and Margaret have devoted a large part of their lives to build a successful and reputable business. It was a pleasure to work with them and alongside Smith Cooper’s Corporate Finance team, who provided valuable lead advisory advice to Paul and Margaret. This transaction completed in in just over 5 weeks from agreeing heads of terms, which was a real achievement.”
Following the sale of the business, Paul and Margaret Mortimer will maintain operational control of Chapelle, which they have been building for the last 20 years.
Paul Mortimer commented: “Both Margaret and I are proud to have been the owners of Chapelle Jewellery for the last twenty years.
I think I speak for both of us when I say that we’re thoroughly looking forward to working with the Hilco team to develop the business even further. Hilco have extensive experience that will allow for continued development and growth.
We also cannot under-state the regard which we have come to have for both the teams advising us throughout the sale process. Professional, supportive, high quality, aware, focussed – in fact there are so many superlatives I could use.”