Endless-backed Book People bolts on Qwerkity

The transaction is intended to expand the range of products offered by Book People, while Qwerkity will receive investment into its digital platform. Under the GP's tenure, Book People has developed its online operations and ramped up recruitment for its e-commerce teams.

Endless acquired a majority stake in Book People in September 2014, in a deal reportedly worth £15m. The GP is invested in Book People via Endless Fund III, which held a final close on £220m in July 2011.

Book People generated EBITDA of £8.1m in 2016, according to publicly available documents, having posted an operating loss before exceptional items of £2.5m in the year prior to Endless's acquisition. Revenue during the same three-year period has fallen from £83.8m to £71.8m.

Company
Founded in 1989 and headquartered in Brackley, Northamptonshire, Qwerkity is a mail order and online retailer focusing on unusual gadgets, clothes and home accessories intended to be acquired as gifts for others. The business generated revenues of £9.1m in the year ending January 2017, according to a statement issued by Endless.

People
Endless – Francesco Santinon (partner).
Book People – William Wellesley (CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Endless
• Build-up