Thu, 12 Jul 2012 | BUSINESS SALE
Theo Paphitis, businessman and star of television show Dragon's Den, has purchased electrical and hardware retailer Robert Dyas.
The deal is thought to be worth in the region of £10 million and follows the 2009 decision by its senior management to buy it out amid fears that it could fall into administration.
Restructuring processes were undertaken by the management and a “full exit review” was conducted by Cavendish Corporate Finance on instruction from the majority shareholders Allied Irish Banks and Lloyds Banking Group.
Mr Paphitis has now stepped in to take control of the company, which was originally established as an ironmonger some 140 years ago but now boasts 97 stores around the UK and employs more than 1,000 staff.
Outgoing chairman Geoff Brady commented: “I am delighted that the business has attracted an entrepreneur of Theo's stature: his track record for growing retail businesses is second to none.
"The sales process attracted a great deal of interest from potential buyers, both from the UK and overseas, but I believe this transaction provides significant benefits both to the Robert Dyas team and to our customers."
The news was first announced by the entrepreneur on Twitter. He tweeted: “First to hear it on tweeter! Pleased to say just bought the retail business Robert Dyas! I am in the ironmongery business!”
Mr Paphitis already owns a number of other retail companies, including the Ryman stationery chain and Boux Avenue lingerie stores.
This thriving company, specialising in yoga equipment and wellness products, offers a unique opportunity with its extensive stock, experienced team, and potential for growth through innovative marketing strategies.
This well-established business, a market leader in tube manipulation and welding services, presents a unique opportunity with a loyal client base across the UK and international markets.
A well-established glazing and glass business located on a business park in Derbyshire offers solid partnerships with local businesses and the council.
03
|
Apr
|
Whitworths Food Group buys oils group KTC Edibles | BUSINESS SALE
Northamptonshire-based Whitworths Food Group is buying KTC E...
02
|
Apr
|
NVM exits travel tech firm Intuitive with Banyan Software deal | BUSINESS SALE
Banyan Software has bought a technology provider of end-to-e...
02
|
Apr
|
CheckFire Group buys long-standing partner PJ Fire | BUSINESS SALE
CheckFire Group, the South Wales-based fire safety equipment...
29
|
Jul
|
Lloyds and AIB moot sale of Robert Dyas | BUSINESS SALE
Lloyds Banking Group and Allied Irish Banks are mulling a sa...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.