Completed sale
John Gowing Retail & E-commerce Business Acquisition by Prasanna Perera | Case Study
We negotiated a significant deal value for John Gowing Jewellers…
“After months of collaboration and careful execution, we’re excited to announce the sale of John Gowing Jewellers. I’m honoured to have guided this strategic transition.” – Sara Manville, Knightsbridge Operations Manager.
Our client is an independent jeweller, established in 1946 and operating in the well-known Covered Market of central Oxford. John and Annie Gowing took ownership in 1975, following the retirement of its founders.
The family-run business sells fine jewellery and watches, including full repair services. Following the company’s 75th anniversary, and 50 years of running it together, the Gowings decided upon well-earned retirements.
With the help of Chris Darroux, Regional Commercial Director, Sara highlighted its consistently high and ever-increasing financial performance – in turnover, gross profit, adjusted EBITDA, and shareholder funds.
Five competing offers were received, allowing competitive tension to be created. Sourced through a crossmatch, a significant deal was struck with Prassana Perera, a jewellery-focused entrepreneur and acquisition strategist.
Prassana is a repeat buyer with Knightsbridge, having previously acquired a similar business situated in a prime area in the heart of Wimbledon Village, London. In a five-star review, the entrepreneur heaped on the praise:
“Very professional service”, Prassana commented, going on to explain: “The first thing is that their valuation is more realistic than other brokers in the market, so the negotiation starts on a positive note with the seller.
“Sara handled the whole negotiation process and the completion in a very professional manner, helping both sides to manage expectations. We completed a complex transaction successfully – thank you Sara for your service.”
Knightsbridge wishes happy retirements to the Gowings, and the best of luck to Prassana!