New dawn for Dreams

Dreams, Britain’s leading Bed Specialist, today announced it had completed a deal with independent Private Equity specialist Exponent to acquire the business. Mike Clare, who founded the company back in 1987, has retained a non-controlling yet substantial stake in Dreams and takes up a new non-executive role as President. 

Mike said “Dreams are a huge success story with so much still to do, which is why I was so keen to stay involved with the business.  I am very confident in the team we have in place to run Dreams and take us to the next level”. The deal also sees a new ‘Clare’ join the Dream team with John Clare, former Chief Executive at DSGi (and no relation to Mike), appointed as non-executive Chairman.   

John Clare said “This is a fantastic business with exciting plans for the future and I am delighted to be part of the Dream team”. Exponent is backing the highly experienced management team, led by Chief Executive Nick Worthington.  Commenting on the acquisition, Worthington said “Our partnership with Exponent and the addition of John to the board will help us strengthen our position as the UK’s destination for beds.  We have very attractive growth opportunities in the UK and expansion into both mainland Europe and the Middle East are likely to feature in our plans as we aim to replicate our domestic success internationally.”

Equity funding is being provided by the Exponent fund and the Management team will also be re-investing a significant sum in the new structure.

Hugh Richards of Exponent said “We are very pleased to back Nick and his team.  They have produced industry beating figures year on year and the growth prospects are very exciting”.

For further information and all media enquiries

Please email: pr@dreams.co.uk