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 vibrant and rapidly growing online business specialises in British craft beer gift hampers, tapping into both D2C and B2B marketplaces, making it an ideal investment for those looking to capitalise on the thriving gift industry. With a streamlin...
A unique opportunity to acquire a well-established engineering services company with ISO 9001 and SafeContractor accreditations, an impressive national client base, and a skilled workforce.
This leading electrical wholesaler in South East England is renowned for outstanding customer service and is a trusted supplier to both electricians and the public. With 350 active clients generating repeat business and a strong team offering expert...
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.