Victoria Plum has had a change of hands, with TPG Capital selling the online bathroom retailer to private equity firm, Endless.
Endless has acquired the entire issued share capital of the business for an undisclosed sum and will work with the management team to continue investing in its people, digital and retail operations.
The transaction was led by Leeds-based Endless partner Matthew Jubb, supported by Linda Nguyenova and David Isaacs and a from the Endless investment team.
Matthew Jubb will also join the Victoria Plum board. The investment is the latest from Endless’s £525m Fund IV.
Mr Jubb 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.”
Mr Jubb added: “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.”
It added that it would work with the existing management team to continue investing in its staff, digital and retail experience, as well as expanding Victoria Plum’s product and services offering.
Victoria Plum, which employs 300 people, has headquarters in Hull, a distribution centre in Doncaster and network of transport hubs with a national footprint.