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Maplin sale contradicts private equity trend of keeping retailers

By   /   March 3, 2014  /   No Comments

Maplin, the electronics specialist

Montagu Private Equity has taken the unusual step of putting retailer Maplin up for sale, contradicting the market’s trend for floating retailers on the stock market to take advantage of current interests.

PricewaterhouseCoopers, the accountancy firm, are taking care of the details of the sale, which could amount to a number between £100 million and £200 million. A number of interested parties have approached Montagu Private Equity for the purchase of the Maplin business, which has 214 brick and mortar stores across the United Kingdom.

The decision not to float the company on the stock market comes as a surprise, given the wider trend of private equity firms taking advantage of the market’s current desire for flotation stocks. Companies that have recently been floated include AO, the domestic appliances company based online, and McColl’s, the range of convenience shops. Other companies such as Poundland and Pets at Home are due to offer shares in the near future as well.

Montagu Private Equity has had Maplin in its possession for a decade, having bought it entirely from Graphite Capital Management in 2004. Whilst under Montagu Private Equity management, Maplin has extended its product range and moved into the online realm more fully. It has become the United Kingdom’s largest consumer electronics retailer.

Montagu Private Equity is a leading European private equity firm based in Europe. Founded in 1968, it has invested in companies such as Hansen Protection (a survival suit manufacturing company), Marlow Foods (the owner of Quorn) and GHD (hair product manufacturers).

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