Panoramic backs Online Home Retail MBO from Grafton

Financial details of the transaction remain undisclosed, though the GP typically writes equity cheques of £1-5m.

The deal is the seventh investment from Panoramic's second fund, which held a final close on its hard-cap of £65m in 2016. Most recently, the vehicle invested in an expansion round for content creation business Quill in July 2017.

Debt
Arbuthnot Latham provided a debt facility to support the transaction.

Company
Headquartered in Evesham and founded in 1999, Online Home Retail is an e-commerce provider of bathroom products for consumers and trade buyers. The company generates a turnover of £26m, according to a statement issued by the acquirer.

People
Panoramic Growth Equity – David Wilson (partner); David Atkinson (senior investment manager).
Online Home Retail – James Hickman (managing director).

Advisers
Equity – Vialex, Keith Dinsmore (legal); James Cowper Kreston (financial due diligence).
Management – Cole Associates Corporate Finance, Jeremy Cole, David Middleton (corporate finance); Charles Russell Speechlys, Richard Norton (legal).
Debt – Irwin Mitchell, Jon Bew (legal).

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