Endless LLP has backed the secondary management buyout of High Street TV for an undisclosed sum. Headquartered in Harrogate, High Street TV is a multichannel retailer which uses television shopping channels as its core platform and sells licensed and branded products in the UK and overseas. The management buyout is being led by the two founding executives Andrew Malcher and Jim Coleman who originally had backing from various private investors led by Gordon Black CBE who was formerly chairman at Peter Black Holdings Ltd..
HSTV has grown rapidly since it was formed in 2008 and expects to generate sales of £70 million and £10 million EBITDA this year. It is best known for bringing the Nutribullet to the UK market and introducing market disruptive products like the X-Hose, Zumba, Genie Bra and Shakeweight. As well as TV channels the business also sells online, via print and through some 4,500 retail outlets across 35 retail groups including Argos, ASDA, John Lewis and Selfridges. Under its next stage of ownership, the management plans to develop HSTV into a truly global multichannel retailer and build on its new product development capabilities.
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. Followng our rapid growth in sales and profitability, we are extremely proud to have agreed backing to assist HSTV in maximising its potential. We are excited about continued organic growth in the UK and overseas. In addition to strategic acquisitions where Endless will add further experience and opportunity.”
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