News from SaunaShop, April 2010

SaunaShop.com announces launch of MBO

The owners, management and staff of SaunaShop are delighted to announce the news that the long-planned ‘management buy-out’ process was officially launched on Friday 23rd April, when the Share Transfer Agreement was signed - a successful conclusion to two years of mutually enthusiastic discussions and planning.

Dutch shareholder Ton van Huis was able to fly in to meet with co-owner Tony Pendleton and SaunaShop’s staff at Wilton to complete the formalities that will eventually transfer ownership of the company to three of its staff: Peter Borrett, Jason Rifat and Chris Roberts.

Tony has been bringing Sauna to the growing UK market since the mid-1980’s; he now takes another step into well-earned retirement as Peter, General Manager of the company in recent years, assumes the role of Managing Director Designate.
His future co-shareholders Jason and Chris have already been working closely with Peter for some years; along with colleague Martin they form the current staff team at SaunaShop’s base near Salisbury.

Customers, suppliers and others closely associated with SaunaShop will already be very familiar with Peter’s highly efficient team, who have been running all the day-to-day operations of SaunaShop for some considerable time.
They will be continuing to operate the company in same friendly and very successful way, while adding more of their own style and innovation with new products to complement SaunaShop’s long-established wide range.

Tony and Ton thank and congratulate Peter, Jason and Chris – and wish them every success!