Partner Article

South Yorkshire electronics retailer Maplin sold in £85 million deal

South Yorkshire electronics retailer Maplin has been sold in an £85 million deal by Montagu Private Equity to Rutland Partners.

The business has been acquired by private equity firm Rutland Partners. Wombwell’s Maplin was bought by Montagu in 2004 and is the UK’s biggest specialist consumer electronics retailer.

Law firm Eversheds has advised Maplin and its management team in relation to its sale. The Eversheds team was led by partner Alasdair Outhwaite assisted by Associates Elizabeth Tindall and trainee Laura Evans

Maplin generates over £220 million in revenues, up from £100 million when Montagu acquired the business. PWC acted as advisor to Montagu on the sale.

John Cleland, Maplin’s chief executive, said: “Working with the Montagu team over the last few years has been a very positive experience.

“They have been highly supportive of management’s plans to reposition Maplin for the future which has enabled us to deliver on our growth plans.

“The recent investment we have made in our shops, our new web platform, our exciting new product range and our people is really starting to pay off as we have enjoyed very strong like for like performance coming through in the first six months of 2014.

This was posted in Bdaily's Members' News section by Clare Burnett .