Leeds-based Endless completes sale of educational resources supplier Findel to Manutan

The company’s brands and websites offer more than 32,000 products and the business exports to 130 countries.

Commenting on the sale, Findel chief executive, Chris Mahady, said: “It’s been a remarkable three years with the Endless team. We’ve invested in our family of brands, giving them each a distinct identity.

“It was as a result of this sustainable business transformation that we were then able to attract a business like Manutan to become our new long-term owner.”

Manutan, which has a specialism in educational supplies, employs 2,200 people and operates 28 subsidiaries across 17 European countries, including the UK.

Endless investment partner, Andy Ross, added: “At Endless, we are only ever a temporary custodian of a business, but I’m incredibly proud of what our teams have achieved over the last three years and look forward to see what they can do as part of the Manutan Group in the future.”

Owner and chairman of Manutan Group, Xavier Guichard, said: “Following on from our strong growth in recent years, we're delighted to be acquiring Findel, whose culture, focus on people, performance and shared values, is totally aligned with our own principles.”

The investment in Findel was managed by Andy Ross and David Isaacs from Endless.

Endless was advised on the sale by Rob Burden and his team at Clearwater (corporate finance) and Debbie Jackson and her team at Walker Morris (legal).

Due diligence support was provided by CIL (commercial), KPMG (financial and tax), Anthesis (ESG) and Intechnica (digital). All values relating to the acquisition were undisclosed.

Endless, which was established in 2005, has offices in Leeds, London and Manchester and is currently investing its Fund V of £400m.

It supports buyouts, non-core acquisitions from larger groups, transformations and financial restructurings.