Rutland picks up Montagu’s Maplin for £85m

According to unquote" data, Montagu acquired Maplin in August 2004, paying £244m for the business, which at the time represented 12.8x its 2003 EBITDA. The company was previously owned by Graphite Capital, which backed the management buyout of Maplin in June 2001, purchasing a 67% stake in the company.

Under Montagu's ownership Maplin expanded its store numbers from 89 to 210 and revenue has grown from £100m to £220m. Furthermore, Maplin has repaid in full its debt and mezzanine facilities.

Company
Founded in 1972 as a mail order electronics components retailer, today Maplin operates 210 retail outlets, generating revenues of £220m. The company continues to sell electrical goods as well as providing tech and electronics solutions to everyday problems. Last year Maplin was the first retailer to sell an affordable 3D printer on the UK high street.

People
John Lovering, chairman of Maplin, is retiring following the deal. John Cleland is CEO of Maplin.

Advisers
Vendor – PwC (Corporate finance).

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• Topics
• UK / Ireland
• Buyouts
• Montagu Private Equity
• Rutland Partners
• Graphite Capital