UK - Montagu Private Equity has acquired electronics retailer Maplin Electronics for £244m from its majority shareholder Graphite Capital and its management team.
Maplin’s eight directors ñ led by chairman Keith Pacey and managing director Graham Caldwell - will reinvest a significant proportion of their proceeds from the sale into the business, which they say reflects their strong belief in the company’s future growth.
Graphite, which bought 67% of Maplin in June 2001, will receive a total return of 9.6 times its initial investment and an internal rate of return in excess of 120%.
Maplin currently has 89 stores across the UK and has plans to open another nine this year.
Montagu was advised by PricewaterhouseCoopers during the transaction, while Graphite Capital was advised by KPMG Corporate Finance.
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