Victoria Plum, the online-only bathroom retailer, has been acquired by private equity investor Endless LLP from TPG Capital.
Endless acquired the entire capital share of the company, for an undisclosed sum, and is looking at expanding its product and service offering. In the main Victoria Plum retails its own-brand bathroom products, which includes suites, furniture, and accessories.
The company made a loss of £13.2 million in 2016, followed by a loss of £5.7 million in 2017, but has slowly turned its figures around and made a £200,000 profit in 2018 on a turnover of £63 million.
Paul McClenaghan, Chief Executive of Victoria Plum, stated: “We believe this is a business with fantastic potential, and we’re delighted to be working with Endless to accelerate our strategy for growth and continue to find ways to differentiate.”
The Hull-based company employs more than 300 people at its HQ, Doncaster distribution centre, and network of transport hubs.
Matthew Jubb, a Partner at Endless LLP in Leeds, said: “Victoria Plum is a hugely exciting acquisition for us and, as a Yorkshire-based private equity house, we are thrilled with the opportunity to back a great local business and help it continue to achieve its full potential.
Jubb will join the Victoria Plum board, along with David Isaacs and Linda Nguyenova from the Endless investment team that led the transaction.
More at: https://victoriaplum.com
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