Albert Goodman and Clarke Willmott advise on cross-border furniture firms’ investment deal

April 23, 2024
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Somerset-headquartered international furniture brand Modus has secured investment from a Canadian manufacturer with the help of regional accountants Albert Goodman and law firm Clarke Willmott.

The strategic partnership with Teknion supports Modus’ international growth plans while also expanding Teknion’s portfolio of social and collaborative products. 

Established in 2000 by former school friends Jon Powell and Ed Richardson, who both had backgrounds in furniture, Modus is one of the UK’s foremost contract furniture manufacturers, with an award-winning product portfolio that includes chairs, desks, tables and sofas.

It now employs more than 60 people at its headquarters in Chard.

The agreement with Teknion is aimed giving Modus a more sustainable entry into North America markets while enabling Teknion to significantly reduce the carbon footprint of its products for the UK and European markets by using Modus’ Somerset-based manufacturing facilities.

Modus managing director Jon Powell said: “We are really excited about this new venture,

“Our companies share an entrepreneurial spirit with a long history of working with some of the world’s leading designers.

“Design has always been central to our philosophy, and we are very happy to be partnering with a global manufacturer that understands the value of great design. 

“Teknion has a significant global presence, and we expect to see the partnership drive strong growth for Modus.

“For Teknion, our portfolio meets the demand for a softer, more inclusive and collaborative workplace.”

Albert Goodman and Clarke Willmott, both of which have offices in Bristol, advised Modus on the deal.

Albert Goodman partner Michael Cahill, pictured, said: “We have been working with Jon and Ed at Modus for the best part of 20 years and have seen the business evolve and grow.

“More recently, with the growth of more agile and hybrid working models, the business has been well placed to adapt its product portfolio and this latest investment will support this.

“We are proud to have worked with Modus to broker this latest investment from Teknion and look forward to seeing where this takes the brand.”

Modus, which like Albert Goodman was recently certified as B Corp in recognition of its pursuit of purpose as well as profit, will continue to operate as an independent company, retaining its own brand and servicing its dealer network whilst expanding its international reach.

Albert Goodman, which also has offices in Yeovil, Weymouth and Weston-super-Mare, works across a range of specialisms spanning audit & accounts and business support services to litigation support, payroll bureau and VAT services.

Clarke Willmott also has offices in Birmingham, Cardiff, London, Manchester, Southampton and Taunton.

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