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MH Direkt, an Austrian owned e-commerce fulfilment business, has made its most recent e-commerce acquisition in the UK, acquiring Firebox.com, an online retailer of unusual gifts, homewares, lifestyle accessories and unique tech. The transaction was completed in May 2021.
HW Fisher LLP, a top 25 accountancy firm, undertook financial due diligence on Firebox and advised on the share purchase agreement.
Helen James, corporate finance partner, HW Fisher, commented “It was a pleasure to assist MH Direkt with this UK acquisition. Over the last year e-commerce has been an indispensable channel for all retailers and it’s great to see MH Direkt want to expand its presence in the UK. We look forward to helping them continue to grow their business in the UK.”
Philipp Schindler, CEO & Owner of MH Direkt adds: “We are excited to make our first step into the UK e-commerce market. Firebox.com is a great fit for MH Direkt and we look forward to helping it continue to grow market share as part of the MH Direkt group.”
MH Direkt was founded in 1996 by Monika and Hanns Schindler as a mail order company and then gradually expanded into a modern fulfilment company. The founders recognized the potential of online trade early on and began to operate and establish their own online shops together with their son Philipp, who is now the second generation to manage the company. In 2020 the company shipped 730,684 packages.
Firebox was founded in 1998 and for over 20 years has sold unusual or abstract products that are hard to find elsewhere. The products are primarily sold through the Firebox.com website and distribution is managed through a warehouse near Northampton. The company has a workforce of about 25 employees based at its head office in London.
About HW Fisher LLP
HW Fisher is a top 25 UK chartered accountancy firm. We provide expert accountancy, audit, tax, corporate and financial advisory services to high-profile entrepreneurial SMEs, large corporates, and high net-worth individuals. We also keep it personal by enabling entrepreneurial high net-worth individuals to concentrate on expressing their talent while depending on ours for their accountancy and financial planning.