TPG backs Victoria Plumb

The deal value is reported to stand at around £200m.

The buyer intends to grow the company via an increased focus on its digital strategy. TPG is no stranger to the sector, having formerly held German bathroom fittings manufacturer Grohe in its portfolio. TPG and Credit Suisse's private equity arm sold the asset to Japanese household equipment maker Lixil and the Development Bank of Japan in a €3bn trade sale in September 2013.

The bathroom fixtures and fittings sector has attracted significant private equity interest recently. In July 2013, Business Growth Fund committed £10m to Better Bathrooms in the same month that Isis injected £8.5m into BathEmpire.com. The previous year, Endless bought Bathstore for an estimated £15m.

Company
Founded in 1999 and based in Hull, Victoria Plumb is an online and mail-order retailer of bathroom products and furniture. Revenues reached £26.2m in the year to February 2013. Victoria Plumb employs around 70 staff.

People
Malte Janzarik is a principal at TPG and worked on the deal. Jason Walker is CEO of Victoria Plumb.

Advisers
Management – KPMG (Corporate finance).

Equity - Cleary Gottlieb Steen & Hamilton, Sam Bagot (Legal).

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