Thu, 08 Jul 2021 | BUSINESS SALE
Private equity firm Endless has sold British jewellery and silverware business Theo Fennell back to the company’s management. The business, which was founded in 1975, has been acquired by TF Topco, a newly incorporated company backed by founder Theo Fennell and MD Neal Sussman.
Endless acquired Theo Fennell when it backed a management buyout (MBO) in 2017 after the company had fallen into administration. Since then the PE firm has ploughed considerable investment into the company, including a new CRM system to help digitise the business and a website which launched in 2020.
This investment helped Theo Fennell perform solidly during the COVID-19 pandemic and has put the business in what is said to be a stronger position as it returns to management ownership. The Chelsea-based company is known for handcrafted silverware and jewellery that is renowned for its quality, craftsmanship and detail.
Endless partner James Woolley commented: “We are proud to have been associated with this iconic British brand and to have worked alongside Theo and Neal throughout the last four years. During this time, the business has been through a successful operational and sales transformation and we believe the time is right for Theo to return to Management’s ownership.”
Theo Fennell Managing Director Neal Sussman said: “Theo and I are delighted to have been given the opportunity to drive the business forward over the coming years. We both wish to personally thank Endless for all their guidance and support over the last few years, which has helped create a business that is in better shape now than it has been for some time”.
Founder Theo Fennell added that Endless have “established really solid foundations across the whole business over the last few years which leave us in an exciting position to realise the potential of this unique company.”
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