Member Article

Leeds’ Endless backs £15 million MBO of The Book People

Leeds-based private equity house Endless has backed the management buyout of Surrey bookseller The Book People in a £15 million deal.

The Book People employ 450 people and have sales of £96 million, whilst this makes Endless’ secon investment in book retail.

Managing partner Garry Wilson told The Yorkshire Post: “We have had a fantastic experience with our investment in The Works, which is an important seller of discount books.

“Yes, Amazon is a very strong mass-market player but The Book People offers fantastic value and has a very loyal following of customers. It’s a nice niche to be in.”

The Book People has an e-commerce platform for books and downloads, with 300 self-employed distributors who sell books in company receptions and a book events business.

The investment includes a majority shareholding and working capital as well as money to grow the business. Chief executive Seni Glaister has taken a significant shareholding.

She said: “I’m delighted to be working with Endless, who share my enthusiasm for the future of bookselling.

“I don’t think there has ever been a more exciting time to be in this business and I am very much looking forward to the next chapter.”

This was posted in Bdaily's Members' News section by Clare Burnett .