Private equity firms circle Card Factory

Alice Murray
04 July 2013

Tweet
Facebook
LinkedIn
Google plus
Send to

UK greetings card retail chain Card Factory, backed by Charterhouse Capital Partners, has attracted interest from Advent International, KKR and Clayton Dubilier & Rice.

Charterhouse brought in Goldman Sachs last year to review its options, which was expected to lead to either a refinancing or an IPO. However, the private equity firm decided to go ahead with a sale and recently invited several interested parties into the data room to carry out due diligence.

According to reports, first round bids were due yesterday. It is thought the company could fetch up to £500m.

Charterhouse backed the management buyout of Card Factory for a reported £350m in April 2010. Lloyds TSB provided senior debt to finance the acquisition.

Card Factory has 650 stores. Founded in 1997 and based in Wakefield, the retailer designs and supplies greetings cards, gifts, plush items, novelties and gift wrap across the UK.

In 2011, Charterhouse backed the company's acquisition of Getting Personal from Isis Equity Partners.