Private equity firm Endless has acquired online bathroom retail Victoria Plum from TPG Capital for an undisclosed sum.
The investment is the latest from Endless’s £525million Fund IV and will support the online bathroom retailer’s growth.
Victoria Plum, which trades exclusively online as victoriaplum.com was founded in 2001 and provides a range of predominately own=branded bathroom products.
The business employs more than 300 people across its head office in hull, distribution centre in Doncaster and network of transport hubs.
Endless will work with the management team to invest in people, digital and retail experience, as well as to expand its product and services offering.
Partner at Endless, in Leeds, Matthew Jubb led the transaction and said: “Victoria Plum is a hugely exciting acquisition for us and as a Yorkshire-based private equity house, we are thrilled with the opportunity to back a great local business and help it continue to achieve its full potential.
“As an established retail brand with a well-invested infrastructure and e-commerce platform, the business has solid foundations on which to further grow and respond to robust online demand for quality and competitively-priced home products.
CEO of Victoria Plum Paul McClenaghan said: “Endless recognise that they have acquired a well-invested and well-managed business, with customers at our heart and key areas of differentiation.
“We believe this is a business with fantastic potential and we’re delighted to be working with Endless to accelerate our strategy for growth and continue to find ways to differentiate. We look forward to an exciting future together.”
Matthew Jubb, who will join the Victoria Plum board, was supported by David Isaccs and Linda Nguyenova from the Endless investment team.
Endless was advised by law firm Squire Patton Biggs, led by partner Jonathan Jones, supported by Mae Salem and Guy Ruddy.
Tax advice was provided by Tom Klouda and Matthew Wilson of Grant Thornton.