Lords leaves At Home subsidiary with management

Builders merchant group Lords has sold its original business, the Lords At Home homewares subsidiary,  to Tilik Patel, the current managing director. 

Lords at Home sells high quality homewares through five branches across West London and first opened in 1985.  Employing 31 people, it is now considered non-core to the Group’s principal focus of building, plumbing, heating and DIY goods, and its sale will allow the Group to further focus on core areas of the Lords’ business.

The cash consideration of £805,000 is payable in full on completion. During the year ended 31 December 2022, Lords at Home generated £3.0 million in revenue and contributed £80,000 of EBITDA.   

Shanker Patel, Chief Executive Officer of Lords, said: “I am confident that the sale of Lords at Home Ltd is a good outcome for all stakeholders across both Lords Group Trading Plc and Lords at Home Ltd. We are confident that under its new ownership, Lords at Home will uphold its customer and colleague first approach. As a Group we are focused on disciplined capital allocation to deliver strategic growth and the divestment of Lords at Home reflects this approach.”