Private equity funds managed by Blackstone announce the acquisition of
Ideal Shopping Direct (“ISD”), a leading independent multi-channel
retailer, from Inflexion.
ISD operates live and pre-recorded channels across all the major UK TV
platforms; Sky, Freeview, Virgin Media and Freesat as well as multiple
internet sites. Its two principal divisions are Create & Craft and Ideal
World. ISD delivers a dynamic shopping experience selling specialty
craft products to dedicated crafting hobbyists as well as home, leisure,
health, beauty and fashion products. Create & Craft is the only
dedicated channel to sell specialist craft products and operates 15
hours a day.
Headquartered in Peterborough in the UK and with a growing operation in
the US, the company has over 800 employees and, through its TV networks,
reaches over 26 million homes. The experienced management team will
continue to be led by Mike Hancox, Chief Executive since 2008. Gerry
Murphy, a Senior Managing Director at Blackstone and former CEO of both
Kingfisher and Carlton Communications (ITV), will become Chairman.
The transaction is expected to close later this year and is subject to
usual closing conditions and regulatory approvals.
Gerry Murphy, Senior Managing Director at Blackstone, said: "ISD has
succeeded by delivering a varied and exciting range of exclusive
products and a great shopping experience to its loyal home shoppers
through its websites and mobile platforms. We look forward to working
with Mike and his team to capitalise on growth opportunities in
omni-channel retailing in the UK and the US."
Mike Hancox, Chief Executive Officer, ISD added: “We see our future
collaboration with Blackstone as a new development opportunity for ISD,
from both a geographical and operational stand point. ISD will benefit
from Blackstone’s international experience and expertise and from new
investment as we enter this next phase of growth."
Duff & Phelps acted as advisors to Blackstone.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to
create positive economic impact and long-term value for our investors,
the companies in which we invest, and the communities in which we work.
We do this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with over
$330 billion in assets under management, include investment vehicles
focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets, and secondary funds, all on a
global basis. Blackstone also provides various financial advisory
services, including financial and strategic advisory, restructuring and
reorganization advisory, and fund placement services. Further
information is available at www.blackstone.com.
Follow us on Twitter @Blackstone.
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