Crown Paints exit is Deal of the Month

THE sale of Crown Paints by Leeds-based turnaround investors Endless is TheBusinessDesk.com’s June Deal of the Month.

Endless bought the loss-making firm three years ago and by last year the famous brand was back in the black, posting profits of £20m on sales of £180m.

The company was sold on the Danish firm Hempel for an undisclosed sum last month.

The secondary management buyout of Driver Hire backed by LDC, which saw Spirit Capital exit the business, was also rated highly by the judges.

Commenting on the deal the judges said:

Robin Skelton, Eversheds: “Another great success for Endless. Their initial investment and input helping to turn around this well known and respected business to achieve a significant exit and return whilst also leaving Crown Paints in a robust position to take the next step on its journey. A real private equity success story.”

Jonathan Jones, Squire Sanders Hammonds: “A fantastic result and a fantastic story. Endless rightly deserve to be lauded for one of the best turnarounds in UK corporate history.”

Colin Stirling, Spirit Capital: “Fabulous result for Endless and for the business and its employees.”