Shoosmiths advises Scrivens Opticians on acquisition of Owl Optical

Shoosmiths advises Scrivens Opticians on acquisition of Owl Optical

Published:

Author: Kara Shadbolt

National law firm Shoosmiths has advised Birmingham-based Scrivens Opticians and Hearing Care on the acquisition of Owl Optical for an undisclosed sum.

Alistair Hammerton

The acquisition takes Scrivens to 178 branches across England and Wales and will further increase the retailer's presence on the high street.

Owl is an independent Midlands based optical retailer, owned by brothers Simon and David Harrison, with eight branches in Stratford upon Avon, Newquay, Weston-Super-Mare, Penzance, Royston, Shirley (Solihull), Radcliffe and Ashton-in-Makerfield.

Shoosmiths corporate associate, Alistair Hammerton, led on the transaction. Real estate advice was provided by partner Beth McArdle and associate equivalent Sue Harris.

Scrivens chairman, Nicholas Georgevic, said: 'We are very much a family company and our success, since my grandfather founded the business in 1938, has been built on a philosophy of making the customer our one and only focus. The Owl business has also been built on the same values, providing high quality professional eye care over many years.

'Shoosmiths have provided exemplary corporate and real estate advice to us in this very important deal for our business and we have been impressed by the level of service received.'

Shoosmiths' Alistair Hammerton, said: 'We are very pleased to have advised Scrivens Opticians and Hearing Care in this strategic acquisition of Owl Opticians and wish Scrivens the very best in this next phase of their business.'

Owl's branches will continue to operate under their individual names and the 50 employees remain with the enlarged group.

Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.

The national corporate team has been placed second by deal volume in Experian's UK Deal Review and Advisor League Table and have recently won Law Firm of the Year at the M&A Awards 2015.