frequently asked questions
Endless questions? Select from the list below for answers to some frequently asked questions
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Does a deal have to have property in it to be of interest to Endless? |
A |
No, but one of our areas of expertise is maximising value from property assets for the benefit of all stakeholders. In turnaround situations we do look at asset base to assess what downside protection is available, including property. In 2006, one in two of our investments had a property element. In addition, we have a standalone sale & leaseback offering.
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Does Endless have to take a majority equity stake? |
A |
No. To date our equity investments range from 18% to 100%. One of the benefits of being a private investment vehicle, rather than a fund manager, is that we can be completely flexible to suit each situation.
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Q |
Endless has sold 3 investments in 2006. Is it a ‘quick turn’ model? |
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No. On Encanta Magazines we stepped in to save the business when the MBI candidate could not get a private equity house to move quickly enough. We were the only people who could do the deal and as part of that deal, we agreed a 6 month buy back clause with him at an agreed price which represented a win win. On Glyn Webb, we went into the deal with a 3 year plan but the hot summer made retail conditions for that sector very difficult. We sold the business on to a more experienced trade player to take it forward. On Pearl Fittings, the business grew so sharply after a raw material price increase that we decided to get a partner with deeper pockets on board. We envisage our typical hold period will be two to three years but take an individual view on each deal.
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Do you just do turnarounds? |
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No, look at our portfolio. Peter Black International, Dernier & Hamlyn... Buy-outs and growth capital are in our sweet spot too.
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Do you do deals all over the UK? |
A |
Yes, we invest in UK headquartered businesses. Our current portfolio includes businesses from Dundee to London with many divisions and subsidiaries across the world. We have recently opened an office in Birmingham, are in negotiations to acquire a London office, have identified a candidate to open a Belfast office and hope to open in Scotland in 2007. Our aim is to be a leader in UK regional buyouts and to spearhead the UK rescue culture with our turnaround offering.
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