IMPROVED advises Flinders on its sale to Nine United
- Date January 4th, 2021
- Transaction type M&A
- Sector Technology
- Sub Sector E-Commerce (High-end Furniture)
Flinders becomes part of the NINE UNITED family. Dutch-based furniture retailer Flinders B.V.has sold 100% of the Flinders shares from management and external investors RTL Ventures and Peak Capital. With this acquisition, Flinders now is part of Nine United Ecommerce at Nine United A/S in Denmark.
IMPROVED acted as the exclusive financial advisor to the shareholders of Flinders on this cross-border transaction in high-end furniture e-Commerce.
Geert-Jan Smits, founder of Flinders, is leaving the company to start an innovative and sustainable initiative for the furniture industry. COO Oscar Diele succeeds CEO Geert-Jan Smits and becomes CEO of Flinders. Flinders will continue to operate as a local entity and local brand within the NINE UNITED family.
"We believe that Flinders is a very good fit with the NINE UNITED group. We share the same values and believe that strong results can only be made by people who care. Being part of NINE UNITED will allow us to continue our success story in the Benelux market.”
Managing Director, Flinders
“Through this transaction, Flinders’ mission will continue to thrive as part of the European leader in high-end furniture e-Commerce ... We see a fastening shift towards the digital marketplace, with consumers increasingly turning to perfectly organised online channels also for purchasing high-end furniture.”
Managing Partner, IMPROVED