Inflexion invests in Ideal Shopping Direct plc

Inflexion Private Equity, the mid-market private equity investor, today announces that it has completed the take-private acquisition of Ideal Shopping Direct (“Ideal”), a leading independent multi-channel retailer, in a £78.3m transaction. The company was delisted from AIM on 23 June 2011.

Ideal sells lifestyle and niche craft and hobbyist products to consumers through TV shopping channels, the internet and mail order catalogues. The TV channels broadcast to over 23 million households in the UK and operate on all available digital TV platforms. Four specialist e-commerce websites support the TV channels and are increasingly used as a customer acquisition and booking channel. The business also operates a wholesale distribution business supplying craft products to third parties in the UK and overseas markets.

Ideal employs over 500 people, who are mainly based at the distribution and broadcasting centre in Peterborough. The business has been growing strongly in contrast to recent UK consumer spending statistics.

John Hartz, Managing Partner of Inflexion Private Equity commented: “Inflexion is very pleased to have completed the public-to-private acquisition of Ideal. Ideal is a great example of the type of business we seek to invest in, being a market leader with a strong management team, operating in a growth sector. The convergence of the internet and TV shopping experiences are generating great opportunities for the business.”

Mike Hancox, Chief Executive of Ideal said: “I have enjoyed working with the Inflexion team as we have progressed this complicated deal. They have been committed to the transaction and I am excited at the prospects for Ideal Shopping, with the support of Inflexion”.

John Hartz, Tim Smallbone, Catherine Richards and Malcolm Coffin led the transaction for Inflexion. John and Tim will join the Board as Non Executive Directors.