Endless sells online bathroom company to ecommerce firm
Private equity firm Endless has confirmed the sale of online bathroom retailer Victoria Plum to AHK Designs Limited for an undisclosed sum.
The acquisition includes Victoria Plum’s head office and its nationwide distribution network, with all the company’s employees transferring to the new owner.
Victoria Plum employs more than 300 people and is headquartered in Doncaster. AHK Designs Limited is an e-commerce retailer based in Greater London.
Endless acquired Victoria Plum in 2019 and oversaw three years of profitable growth. However, significant cost inflation in global freight costs and cost of living pressures across the UK consumer sector have impacted profitability and cash flows in recent months.
As a result, it was concluded that for Victoria Plum to continue to develop as a business it would benefit from being part of a larger group which owned complementary businesses.
Aamir Khurshid from AHK Designs said: “Victoria Plum is a leading online retailer of bathroom products with a strong brand and market-leading product.
“We are pleased to be investing in the future of the business and look forward to welcoming all of Victoria Plum’s employees into AHK Designs.”
AHK Designs Limited was advised by Dr Sayed Shuja Ali of ICON Investment Consultants; and Tom Pringle, Jasvir Jootla and Emily Rust of Gowling WLG (UK) LLP.
Victoria Plum Limited was advised by Tim Vance, Sam Woodward and Scott Mackenzie of EY; and John Alderton and Jon Chesman at Squire Patton Boggs.