Endless acquires Arran Aromatics from administrators

According to BBC News, the latest investment took just one week from origination to completion and will safeguard more than 100 jobs at the company.

The financial performance of Arran has fluctuated during the past 10 years. The business was previously rescued from bankruptcy in 2009 by turnaround expert Iain Pittman.

Arran later received backing from the Business Growth Fund (BGF), in 2013. Other investors in the company have included Highland & Islands Enterprise, Scottish Enterprise and Scottish Development International.

The deal marks the ninth investment with capital drawn from Endless's fourth fund, which held a final close in December 2014. It comes shortly after the firm acquired MTI Europe, a UK-based provider of data storage and IT infrastructure, from US-based GP Garnett & Helfrich Capital.

Previous funding
In September 2013, BGF invested £2.8m for a minority stake in Arran in order to invest in marketing activity, IT infrastructure, its e-commerce platform and real estate.

Company
Founded in 1988 and headquartered in Brodick on the Isle of Arran, Arran Aromatics is a manufacturer and retailer of soap and fragrances. The business has seven stores across Scotland and generates revenues of £6m, according to various media reports.

People
Endless – Gary Wilson (executive chairperson); Darren Forshaw (senior partner).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• Endless
• Turnarounds