Walker Morris advises High Street TV on MBOPrint news article
A team of lawyers at Walker Morris have advised the sellers of High Street TV on a secondary management buyout, backed by Endless LLP.
Andrew Malcher and Jim Coleman set up the Harrogate firm in 2008 and Endless first invested in the firm in 2012, when annual sales were approaching £15 million. Revenues trebled in two years and it expects to generate EBITDA – a measurement of profitability – of £10 million on sales of £70 million this year.
High Street TV sells licensed and own-branded products on TV, online and via print, as well as through 35 retail groups, including Argos, Asda and John Lewis.
Garry Wilson, partner at Endless, said:
“Andrew and Jim are two remarkable entrepreneurs who have built an incredible business under the tutelage of Gordon Black CBE and surrounded themselves with a great team in Harrogate.
“High Street TV is clearly the market leader in multi-channel, direct response TV and the trusted partner for businesses who want to launch innovative products into the UK and international markets.”
“Since its launch in 2008 its growth in both sales and profits has been truly astounding. We are delighted to invest alongside Andrew, Jim and the wider management team as we believe that High Street TV has the potential for even greater growth in the next few years.”
Andrew Malcher, co-founder and executive chairman, said:
“Endless are a first-class organisation with an excellent track record of helping companies maximise their potential. Following our rapid growth in sales and profitability, we are extremely proud to have agreed backing to assist HSTV in maximising its potential.”
Walker Morris fielded a multidisciplinary team to advise the sellers of High Street TV comprising the Corporate Team and Peter Considine from the Banking Team advised High Street TV on the banking arrangements.