Issue 3 Winter 09
From Garry Wilson
The last year has seen bankers portrayed by the media as public enemy number one.
Mercifully MP’s expenses came to the fore and relieved the pressure on our friends in the banking industry for a while but recent talk of bonuses for bankers is set to move the industry back into the limelight.
Turnaround News
Celebrating its first anniversary of independence following the Endless backed buyout, the pace of change has been relentless.
Firstly, there has been a significant restructuring of business operations to support its separation from former parent Akzo Nobel; no mean task.
Vasanta Group, the UK’s largest distributor of office products is looking forward to recovery following a rescue refinancing by Endless and its syndicate of banks.
Vasanta was recently ranked the 7th largest business in the Sunday Times Top Track 250 league table of profitable, privately owned UK mid-ranking businesses, with turnover of £517m and operating profit of £18m in 2008.
Annual Endless charity fundraiser returns for its fourth consecutive year to celebrate success in the turnaround and restructuring industry.
Over 300 of Yorkshire’s business recovery and corporate finance professionals gather each year to celebrate and raise significant amounts for charity.
Market Outlook
What does the current market hold for a turnaround investor like Endless?
Birmingham-based Investment Director Nick Leitch examines some of the key emerging trends we will be keeping an eye on in 2010.
Most private equity houses have been reporting significant downward revaluations of their portfolios.
In stark contrast Endless has recently advised its investors of a 25% increase in the value of its Fund II investments.
Comeback Kings
A look back in time to some of the greatest turnarounds of a sporting nature!
Solution
Disposing of problem non-core businesses may not be easy...
...but it need not be impossible, writes Endless Investment Director Mathew Deering.
Just two years since Endless backed the buy-out of Homebuy, we are delighted to report its second year of strong profitability with a 44% increase in EBITDA to £4.6 million.
Homebuy provides retail credit to consumers for purchases of household goods such as televisions, electrical and white goods.
Sector Insight
The acquisition of the Vasanta Group in July 2009 represents a landmark deal for Endless.
Investment Directors Chris Clegg and Mat Deering investigate whether it could also mark a watershed in the way banks deal with excessive debt in leveraged buyouts.
The New Buzzwords of 2009
If you’ve been in a meeting with Endless team recently and witnessed them feverishly scribbling away, perhaps they have just heard a business expression worthy of being added to our ongoing series.
Here we bring you the very latest in business jargon.
Endless is delighted to announce that Warwick Ley has been appointed a Partner in the firm.
Warwick joined Endless in early 2006 and has since led the successful expansion of Endless in the North-West.
Portfolio Focus
Insolvency Practitioners and Restructuring Experts are touted as the new Kings of the High Street.
Endless’ investment in The Works shows how fixing the fundamentals is the key to a retail turnaround.
Welcome
DavyMarkham Sale Shows Turnarounds can Engineer Value
Crown Paints Pushing Ahead
The View From Endless
Endless Win Coveted BVCA Award
Standing out from the Crowd - Investor Conference 2010
Excelsyn Exit Delivers Market Leading Returns
Never Say Never
Endless Acquires Schoolwear Supplier Trutex
“Sensible and Responsible Women do not want to Vote”
Endless Team Takes on Three Peaks Challenge
Amco Stars in National League Table
Nick Leitch has the "Y Factor"