This is a great outcome for both the shareholders and the ongoing management team. The closer we have got to Vestey the more we have seen how they share the same values as Donald Russell, which bodes well for the future. It was very impressive to see how Cavendish handled the auction process and used their international network to talk directly with purchasers around the world. You stayed with us every step of the way and made sure that the sale moved ahead despite all the obstacles, so thank you!
During the lengthy negotiations with Schneider Electric, we received the full attention of Cavendish’s experienced and dedicated deal team. They helped us navigate through a process that was new to us but familiar to Schneider and remained focussed on the commercial terms of the transaction throughout. Working with Cavendish, we have secured a terrific deal for shareholders and one which will be transformational for the business.” John Joseph, Chairman and founder, GET Group Plc.
Over the years we have had numerous suitors, but the wise guidance of Jonathan and Howard at Cavendish, surely the most astute of advisors for the selling of luxury businesses, has always been there to help us determine the most fitting acquirers. Their understanding of my belief, that to own New &Lingwood, is only a temporary curatorship of this unique company, and their appreciation of the psychological pride of this curatorship, puts Cavendish in a class of its own. This requires a special brand of understanding, rarely found today in the relationship between a seller and his advisor. What we have NOT sold, and which has no price that can be quantified, is the deep and far-reaching friendships that I have gained through my association with Howard and Jonathan.
It has been a great pleasure working with you. I could not have done that final push of the journey I embarked upon 20 years ago without you. You really did wonderful work for me, especially in that last mile. I am so grateful.