NorthEdge Capital could exit Jigsaw24

Manchester-based private equity group NorthEdge Capital is looking to offload Nottingham-headquartered Jigsaw24, the UK’s biggest Apple reseller.

According to reports over the weekend NorthEdge is looking for a buyer because of increasing fears that consumers and businesses are keeping their smartphones for longer.

This is just weeks after Dixons Carphone issued a profit warning.

The Sunday Telegraph said NorthEdge had engaged Clearwater Corporate Finance to seek buyers for Jigsaw, which counts Channel 4, BBC Sport and New UK, among its customers.

Jigsaw specialises in selling iPhones, iPads and Macs to businesses in the UK. NorthEdge bought a majority stake in the group in 2013.

Jigsaw’s revenue was £125m in the 12 months to May, £60m more than in 2013.

A deal is expected to be announced at the end of this year or early in 2018. The Telegraph’s sources said the move was not linked to concerns that people had reached “peak phone” consumption and said the group wanted to exit at a time that left “plenty of runway for the next people”.