Endless acquires Victoria Plum from TPG

Endless drew equity from Endless Fund IV, which held a final close on £525m in 2014.

Endless plans to work with the company's existing management team to expand its product and services offering.

TPG invited offers from bidders in July 2019 after Bathstore declined to bid on the company. The trade buyer was in talks to acquire Victoria Plum in December 2018, according to Unquote sister publication Mergermarket.

Previous funding
In 2014, TPG acquired the company in a management buyout that valued the company at around £200m, according to reports.

Company
Headquartered in Hull, Victoria Plum employs 300 staff and operates a distribution centre in Doncaster. Founded in 2001, the company sells a range of predominantly own-branded bathroom products, bathrooms suites, bathroom furniture and accessories.

The company generated £63m in revenues in 2017, up from £26.2m in 2013. It recorded a £200,000 operating profit in 2017 following a £5.7m loss the previous year.

People
Endless – Matthew Jubb (partner).
Victoria Plum – Paul McClenaghan (CEO).

Advisers
Equity – Squire Patton Boggs (legal); Grant Thornton (tax).

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• Topics
• Buyouts
• Exits
• Consumer
• Secondary buyout
• Endless
• TPG Capital
• Squire Patton Boggs
• Grant Thornton
• United Kingdom