Mon, 03 Mar 2014 | BUSINESS SALE
Electronics retailer Maplin has been placed on the market by its private equity owner Montagu with a price tag of up to £500 million.
Accountancy firm PricewaterhouseCoopers has been drafted in to manage the sale, following several approaches from interested parties looking to buy the business.
Montagu purchased the 214-store retailer in September 2004 from buyout firm Graphite Capital Management. It is thought to have tried to sell Maplin in 2011, but failed to advance talks with potential buyers, who included Blackstone, CVC and Advent International, after disagreements over the price.
Maplin is the largest specialist consumer electronics seller in the UK, and sells via high street and out-of-town stores, a mail order catalogue and its website. It set up a new website last year with a bigger product range as part of plans to up its online offering.
Montagu, which has previously invested in hair business ghd, Quorn and Biffa, could have followed the recent trend for a listing on the stock market for the retailer, but is going against the wave to put it on the market instead.
Maplin's extensive product range covers home electricals, DIY, cars, CCTV and security, office, computers, batteries and power.
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