Roper Rhodes, the bathroom furniture designer and supplier with its main warehouse on the outskirts of Bristol, has been sold to a Swedish firm in a deal worth up to £90m put together by city-based law firm TLT and accountants Deloitte.
Family-owned Roper Rhodes was launched 42 years ago by Brian Roper and has since grown to become a major player in the UK market. 
The acquisition by Svedbergs, which has been listed on the Stockholm stock exchange since 1962, brings the Swedish bathroom equipment firm into the UK market for the first time.
It said the investment would allow Roper Rhodes to develop its business further with the existing management team remaining in place to ensure the continued commitment to its staff and the local community.
Roper Rhodes, which has a 200,000 sq ft warehouse at Royal Portbury Dock, near Avonmouth, and its headquarters in Bath, contributes 3% of its pre-tax profits every year to local charities and supports local community organisations.
Its national distribution centre at Portbury also houses a 7,000 sq ft UK customer training centre and suite of showrooms where its range of products are displayed.
Having been approached numerous times over many years to sell by building products and bathroom firms as well as private equity firms, the Roper family appointed TLT to identify a suitable buyer and prepare it for sale to maximise shareholder value and ensure a smooth transaction.
Svedbergs, which designs and manufactures bathroom furniture and products, operates exclusively in the Nordic region.
It said it had targeted Roper Rhodes, whose brands include Roper Rhodes, Tavistock and R2, because the company fitted with its strategic objective of acquiring market-leading brands in the bathroom sector in key European markets.
Brian Roper’s sons and majority shareholders Mark and Paul Roper will leave the business with immediate effect while managing director Leigh Leather and directors Will Steele, Simon Taylor and Chris Vallance will remain on its operational board.
Svedbergs Group president and CEO Per-Arne Andersson said: “Roper Rhodes is a perfect match with Svedbergs Group’s strategy and ambition of becoming the leading bathroom supplier in selected markets in Europe.
“Roper Rhodes is well-managed and financially strong with a strong market position and more than 40 years in the industry in the UK.
“The company is very similar to the other branded companies of the Svedbergs Group with strong brands and innovative products in different sales channels and a diverse customer base.
“Together with the experienced Roper Rhodes management team we are looking forward to grow in the British market, which provides clear potential going forward due to its size and underlying demand for new homes and refurbishment.”
The TLT team was led by partner James Webb with support from head of corporate Andrew Webber, associate Yervand Agobiani and solicitor Joanna Grover. Tax advice was provided by partner Mark Braude.
The Bristol office of Deloitte acted as lead adviser to Roper Rhodes with a team comprising partner Martyn Gregory, director Rob Wallace, manager Rafi Khan and executive Morwenna Gibbs.
Paul Roper of Roper Rhodes said: “We’re really grateful to TLT for supporting us with this transaction and for working successfully alongside our financial advisers at Deloitte on the process to realise value for our business.
“The team were incredibly professional and always responsive and we were grateful for their experienced and clear, calm advice throughout a long process.
“This is an exciting step on our journey to grow and develop the business internationally and we believe we’ve found a great partner in Sverdbergs; a company where innovation, vision and craftmanship has taken the company from its beginnings in 1920 to market leader in the Nordic region.”
TLT partner James Webb added: “Our long-standing relationship with Roper Rhodes provided us with great insight into the company’s aims and objectives for what is a key step in their succession plan.
“This insight, alongside our transaction and consumer sector expertise and use of dedicated project management tools allowed us to expedite the review and execution process and complete the transaction efficiently.
“It was a pleasure to support Mark and Paul as well as the wider management team with this deal, which truly demonstrates how well-managed and prepared businesses with strong brands and values are able to manage supply and demand challenges and attract overseas investment in a significantly busy time for deal-making.”
The sale price is made up of a fixed consideration of £76m with a maximum earn-out of £14m.
