Corporate lawyers at Walker Morris, including Debbie Jackson and Rebecca Whitehouse, have advised on the sale of bathstore, a UK-based specialist bathroom retailer, as part of a management buy-out (MBO) led by its chief executive Gary Favell.
Bathstore is a £115m business with 172 stores across the UK. This transaction provides an exit for Endless, which acquired bathstore in May 2012. Since that time, the business has grown its sales by 30 per cent and improved EBITDA by £5m. The terms of the MBO are undisclosed but this delivers a 5.0x return for Endless.
Endless was advised by Rothschild and Walker Morris.