Executive Equity Partners (EEP), a German private equity firm, has acquired Notonthehighstreet (NOTHS). The online marketplace, which had trailblazed with its focus on providing a platform for small independent craft product makers, had been struggling for some time in a very competitive market. With consumers seeking lower-cost sources and choosing price over quality, demand had slipped.
EEP is understood to be focused on transforming the business and has named Pascal Schuster as its new CEO whilst pledging new investment to facilitate a return to profitability.
Schuster said: “NOTHS has a strong brand and a unique community. As the new CEO, my focus is on setting the right priorities together with the team, strengthening the foundations of the business and guiding the company back onto a path of sustainable growth.”
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