Endless exit generates 65pc investor return
The purchaser, which is based in France, specialises in vinyl flooring and is backed ICG.
Endless said the sale generated an internal rate of return (IRR) of 65 per cent for investors within its third fund, which was raised in 2011. IRR represents the net return to investors after fees are deducted, taking into account cash flows in and out of the fund.
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Hide AdThe Gradus sale follows the firm’s exit from FMG in a deal with Redde Group in October and is marks the third successful exit for the firm’s third fund.
Last December, the firm revealed it raised £525m to launch its Endless IV fund. In September, the firm made its 10th deal of 2015, acquiring Blackburn-based bakery Bright Blue Foods.