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Farrow & Ball Paints Sold for $430M

Wednesday, December 3, 2014

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Farrow & Ball, the elite UK paint and wallpaper maker that once supplied paint to England's Admiralty and War Office, has been sold to a U.S. asset management group for £275 million (about $430 million USD).

A fund managed by Ares Management's Private Equity Group bought Farrow & Ball from European Capital Limited, its owner for the last eight years. Farrow & Ball’s senior management will retain a minority stake.

The British acquisition was the second this year for Ares. In July, the firm acquired homebuilder London Square for $172 million USD.

'Powerful Brand'

Founded in the 1930s by chemists John Farrow and Richard Maurice Ball, Farrow & Ball has built its name on handcrafted wallcoverings and luxury paints of  "the finest ingredients and age-old methods which have withstood the test of time and the passage of many a fickle fad," the company says.

Photos: Farrow & Ball

Farrow & Ball boasts that its paints are made with "the finest ingredients and age-old methods which have withstood the test of time and the passage of many a fickle fad."

With its craftsmanship niche, the company has more than 50 showrooms throughout Europe and North America and approximately 1,200 independent retailers across the globe.

The paint company brings a "powerful brand and strong growth potential" to its new owners, Ares officials said.

“This investment exemplifies our strategy of partnering with best-in-class management teams that have distinguished products and leadership positions in their industry,” said David Kaplan, of the Ares' Private Equity Group.

“We look forward to supporting the next phase of the company’s growth in the U.K., U.S. and other international markets.”

Farrow&Ball

Handcrafted wallcoverings are made with traditional block and trough printing, as well as the company's paints.

Don Henshall, Chief Executive of Farrow & Ball, said the company shared Ares' "vision for accelerating the growth of the business.”

About the Companies

Founded in 1997, Ares Management, L.P. has about $80 billion of assets under management and about 730 employees in the United States, Europe and Asia.

All Farrow & Ball products are manufactured by craftsmen at its factory in Dorset, England, home to the company since inception. The company's paints use of high levels of pigments, rich resin binders, and ingredients with a high refractory nature. Its wallcoverings are handcrafted using Farrow & Ball paint with traditional block and trough printing methods.

 

   

Tagged categories: Acquisitions; Architectural coatings; Farrow & Ball; Paint and Coating Sales; Wallcovering products

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