Nottingham education supplier bought by Paris firm
Educational resources supplier Findel has been acquired by Manutan, a leading European B2B e-commerce company headquartered in Paris
Following the acquisition, all employees at Findel have been retained, and there have been no alterations to the company’s commercial agreements with customers and suppliers.
Nottingham-based Findel traces its roots back to 1817, and provides more than 32,000 products to educators and parents in the UK and abroad, with exports to 130 countries.
Besides its Netherfield distribution centre and offices, the company’s headquarters are located in Hyde, Greater Manchester, employing approximately 300 individuals.
Findel’s brands include Hope, GLS, Davies Sports, Philip Harris, and EuHu.
With a specialisation in educational supplies, Manutan employs 2,200 individuals and operates 28 subsidiaries across 17 European countries, including the UK.
Offering over 800,000 products, the company boasts a turnover of €946m.
The supplier underwent a management buyout (MBO) from Studio Retail Group in April 2021, backed by Leeds-based private equity firm Endless.
Findel chief executive, Chris Mahady, said: “Over the past three years, Findel has undergone a business transformation thanks to the incredible work and dedication of our people and the support of Endless. Our acquisition by Manutan marks the end of that journey and the beginning of an even more exciting one. Like Findel, at the heart of Manutan are values and a positive culture that guides everything they do along with an unwavering commitment to sustainability.
“This gives Findel a long-term sustainable home for the future which ultimately solidifies our position and will help us to continue to develop an even stronger customer proposition. In addition, Manutan’s leadership believes in fostering learning environments that inspire growth and innovation, so we are perfectly aligned.
“By joining forces, we will leverage our combined strengths in the UK and international educational supplies sectors to achieve even greater success together.”
Findel was advised on the acquisition by Clearwater and Walker Morris and Manutan was advised by Cripps and PwC, with all values relating to the acquisition being undisclosed.
