Founded in 2000 and based in Chesterfield, UK, Utopia offers an extensive range of tableware, glassware, and accessories designed for the hospitality and branded glass market with a significant emphasis on new product development, innovative presentation solutions, and an array of classic essentials.
Steelite International, a portfolio company of US Private Equity house, Arbor Investments, is leading supplier and manufacturer of award-winning tabletop, buffet, and lighting solutions to the global hospitality industry.
The acquisition adds Utopia’s innovative product lines, premier brands, a centralised distribution centre and state-of-the-art decorating facility to Steelite’s global footprint and expansive portfolio.
"Making a once-in-a-lifetime decision to sell your business is not an easy one, and when we set out on this path, I sought a team that would be as dedicated to the process as I am to Utopia. The M&A team at BDO not only delivered on that but also took the time to understand me personally—my vision and strategic approach. They moulded their working style around my perspective, which led to greater harmony throughout the process. They guided us through the twists and turns of a deal, with the senior team always being available and responsive. The team drew upon expertise from across the BDO firm, which was invaluable to the project. The marketing literature was of high quality and articulated the business in the best possible way, which, combined with robust negotiation and a tightly run process, ensured an excellent result for the shareholders was achieved in the desired timeframe. I would happily recommend the BDO team to any other business owner looking to make the same difficult decision."
Mark Rammell - CEO, Utopia Tableware Limited
“This deal reflects BDO’s ability to attract US buyers and the continued appetite of US PE-backed businesses for exciting and dynamic companies. Mark Rammell and the team at Utopia had created a fantastic differentiated business and the strong strategic fit with Steelite will enable Utopia to continue to expand and access new geographies”
Roger Buckley - Partner, BDO LLP