Watchfinder deal wins KCFA Deal of the Year 2014
Brachers has been awarded the Kent Corporate Finance Alliance (KCFA) Best Deal of the Year 2014 for its role in the $10 million investment in watch retailer Watchfinder, the second year in a row the firm has won the prize.
Watchfinder secured the investment in September last year from growth equity firms Piton Capital and Beringea. The retailer specialises in high-end watch brands including Rolex, Cartier, Tag Heuer and Omega, with its first bricks and mortar store located in the Royal Exchange shopping centre next to the Bank of England in London.
The investment boosted sales and doubled Watchfinder’s stockholding from 1,900 to 3,000 watches. The company went on to achieve a record-breaking 2014, reaching an annual turnover of £36 million, which it aims to increase to £103 million by 2018.
Brachers’ Corporate Partners James Bullock and Matthew Simmonds led the deal and collected the award on the evening.
The KCFA is an independent network providing expert advice to businesses with a turnover of at least £1m based in the Kent region.
James Bullock commented:
“It was a huge pleasure to work alongside Watchfinder on this deal and it’s great to see them going from strength to strength as a result. We are excited to continue contributing to success stories like these coming out of the business community in Kent, which is proving to be an excellent environment for companies in a number of sectors to grow and develop”.
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