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Bathroom retailer Bathstore been sold as part of a management buyout led by its chief executive. The terms of the buyout are undisclosed, but sees Endless LLP, which acquired bathstore in May 2012, exiting the business.
Since that time, bathstore has grown its sales by 30% and improved EBITDA by £5 million.
James Woolley, a portfolio director at Endless LLP, said: "Over the last two years we have supported the management team in delivering their vision providing its customers with a full service solution, offering lower price point entry, price transparency, and enhancing its product range. The excellent exit we have achieved today is down to the hard work and dedication of the management team at bathstore and we wish them every success in the future."
Gary Favell, bathstore chief executive, added: "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."
Endless LLP was advised by Rothschild and Walker Morris LLP.