Bathstore sold in an MBO

Wed, 02 Jul 2014 | MBO/MBI

Bathroom retailer Bathstore has been sold in a management buy out deal, providing an exit for turnaround investor Endless.

Endless bought the flagging 172-store business in 2012 for £115 million, and has since turned it around, growing its sales by 30 per cent and EBITDA by £5 million.

The deal will see Endless - who has ploughed about £11 million into the business - pocket a fivefold return, though the exact sale figure is unknown.

Endless brought in Gary Favell, the former chief executive of furniture seller MFI, to build its online growth, customer service and new product lines.

American billionaire Warren Stephens, who already has interests in private equity and banking, has backed the MBO and is working with Bathstore’s bosses, including Favell, to achieve the deal.

Favell commented on the situation: “Endless’ support has been invaluable in helping us deliver the improvement in business performance. With their support we have re-established bathstore as the market leading brand in the sector. With our new partner we will continue bathstore’s growth into the future.”

Founded in 1988 as a plumbing and heating trade shop in Croydon, London, it was known as Bathrooms Direct until 2002. It was purchased by builder’s merchant Wolesley in 2003, who grew store numbers from 50 to 182 by the end of 2007/08. It had to be restructured after the recession set in, with about 19 stores shut down.

______________________________________________________________________
Related information:
Business Sale Report blog - Economic recovery separates the weak and strong


Share this article



Latest Businesses for Sale

Two Cafes & Food Kiosk
Cornwall, UK Wide

2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.

Asking Price: £299,950
Turnover: £500,000

LEASEHOLD


Flooring Specialists
Hertfordshire, UK Wide

Flooring Specialists: Domestic, Contract, Rentals, HMO, Housing Associations, Ecclesiastic, Schools and New Build. Well-Established. Highly reputable with multiple years of repeat business. Over 25 years of experience in the field. Domestic and Comme...

Asking Price: £400,000
Turnover: £850,000

LEASEHOLD


Movable Art Display Walls Design & Manufacture
Wiltshire, UK Wide

Blue Chip Client Base. Full Range of Display Systems. Limited Industry Competitors. Solid Platform for Growth. Offers invited.

Asking Price: Offers Invited
Turnover: £403,159

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
13
 
Sep
 

AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE

AFH Financial Group, a listed wealth management firm headqua...

 
12
 
Sep
 

Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE

Healthcare communication specialists, Lucid Group, has succe...

 
11
 
Sep
 

Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION

A small energy supplier providing green energy to 29,000 hou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
27
 
Jun
 

Administrators appointed for major bathroom retailer – buyer sought immediately | ADMINISTRATION

With 135 stores dotted around the country, and thought to be...

 
11
 
Jul
 

Endless close in on Kiddicare acquisition | DIVISION SALE

Private equity firm Endless is leading the race to season Ki...

 
24
 
Jan
 

Sale sought by Bathstore owner Endless | BUSINESS SALE

Bathrooms retailer Bathstore is being prepared to change own...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources