Ideal Shopping Direct Acquired by Inflexion Private Equity for £78.3M; Bayside Credit Partners Provides Mezzanine Financing
Ideal Shopping Direct, a Peterborough, UK-based independent multi-channel retailer, recently has been acquired by Inflexion Private Equity in a £78.3m transaction.
The company was delisted from AIM on 23 June 2011.
Bayside Credit Partners has provided mezzanine financing to support the acquisition.
Ideal sells lifestyle and niche craft and hobbyist products to consumers through TV shopping channels (Ideal World, Create and Craft, Ideal Extra and Ideal & More), the internet ( www.idealworld.tv, www.createandcraft.tv, www.gardenbargains.com, www.animalbargains.com and www.britishwildlife.tv) and mail order catalogues. The business also operates a wholesale distribution business supplying craft products to third parties in the UK and overseas markets.
Led by CEO Mike Hancox, the company employs over 500 people, who are mainly based at the distribution and broadcasting centre in Peterborough.
John Hartz, Tim Smallbone, who led the transaction for Inflexion with Catherine Richards and Malcolm Coffin, will join Ideal’s Board as Non Executive Directors.