Trutex is one of the UK leading names in schoolwear and sports schoolwear. The business is a multi-channel operator, selling directly to schools and parents as well as to a network of over 2,000 independent retailers across the UK. Endless acquired Trutex in February 2010. Trutex had historically been a profit generating business but was in need of further equity investment to fund its growth plans as well as working capital support to meet its peak trading requirements.
Endless’ financial support and hands-on approach provided the business with a firm platform for growth. Endless helped re-build the management team after the transaction and then assisted them in driving an ambitious profit enhancement programme as well as assessing opportunities for expansion.
By working closely with the business’ bank and by putting together a dedicated in-house deal team, Endless was able to complete the transaction in three weeks which evidences the firm’s market leading speed. Having revitalised the management team, Endless was pleased to sell Trutex to them in 2014, with the business in a strong financial position.