DOUBLE WIN FOR THE WORKS!
Last night The Works won Private Equity Turnaround at the IFT Awards and Exit of the Year at Yorkshire Insider Dealmakers Awards!
Endless invested into The Works in 2008 and we are delighted to have witnessed one of the most remarkable business transformations we have been involved with, as The Works has become one of the UK’s pre-eminent discount retailers.
The Yorkshire Insider judges said the story of The Works was incredible. The 11-year investment for Endless was once losing £6m a year. One of its turning points was when Card Factory founder Dean Hoyle became chair and started locating stores next to Card Factory shops. There were acquisition offers for the business but the £100m float on AIM represented the best possible exit.
“I remember when we bought the business in 2008 someone asked me if I’d heard of Kindle. I said “Yes my kids love their chocolate but what’s that got to do with The Works?” Then I realised we could expand the range to include sweets and the rest is history”
Garry Wilson, Managing Partner of Endless