The Book People turns a new page with Convex
CONVEX Capital, the Manchester-based corporate finance boutique, led the sale of The Book People to a management team backed by investment firm Endless.
The team, led by managing director Mike Driver and including Nathalie Hodgkinson, Warren Meggitt and Pete Cheney, had been working with the founder Ted Smart since January this year.
Convex, which recently led the £19m sale of Middleton-based LEDHut, was engaged by The Book People because of its track record in e-commerce, Mr Driver said.
The Book People, which was acquired by managing director Seni Glaister, has one of its major distribution bases in Haydock, where it has several hundred staff.
Mr Driver said: “The Book People is a great business with sales of £96m, built up from his garage by a Ted Smart, a remarkable man.
“Mr Smart was keen to see the business continue as an independent company as an alternative to Amazon and as an avid reader myself it was great to be involved in this important transaction.”