Fri, 18/10/2019 - 08:47
Endless, a private equity investor, has acquired Victoria Plum from TPG Capital.
Founded in 2001, Victoria Plum provides a range of predominantly own-branded bathroom products, including bathroom suites, bathroom furniture and accessories. Victoria Plum currently employs more than 300 people and the investment from Endless will support the online bathroom retailer’s continued growth.
Endless has acquired the entire issued share capital of the business for an undisclosed sum and will work with the management team to continue investing in its people, digital and retail experience and expanding its product and services offering.
The transaction was led by Matthew Jubb, Leeds-based Endless partner, and supported by David Isaacs and Linda Nguyenova from the Endless investment team. Jubb will also join the Victoria Plum board as part of the deal.
Jubb says: “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.
“As an established retail brand with a well-invested infrastructure and e-commerce platform, the business has solid foundations on which to further grow and respond to robust online demand for quality and competitively priced home products.
“We look forward to working closely with Paul and the rest of the management team to deliver our shared vision for this business.”
Paul McClenaghan, CEO of Victoria Plum, says: “We thank TPG for their partnership over the last few years.
“Endless recognise that they have acquired a well-invested and well-managed business, with customers at our heart and key areas of differentiation. 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. We look forward to an exciting future together.”
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