Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Office edges closer to £150m deal with Silverfleet

Retail entrepreneur Sir Tom Hunter has entered exclusive talks with private equity firm Silverfleet Capital to sell footwear retailer Office for about £150m.

T J Hughes investor Silverfleet Capital and PAI Partners, the private equity firm behind Spanish fashion retail giant Cortefiel, last month emerged as two of the bidders for Office. Investment bank Merrill Lynch and private equity firms Blackstone and TPG were also understood to have made first round bids for the footwear chain, which was put up for sale in July for offers of between £150m and £200m, following unsolicited approaches for the company.

Hunter bought Office for £16m in 2003. The company enjoyed a strong performance in the year to January 31, when EBITDA rose to £18.5m, up from £10.5m the year before.

Office declined to comment.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.