Media reports suggest Gardman might sell to private equity

Gardman has "received interest from several private equity firms that are circling the business, which is expected to fetch around £50m", reports the Daily Telegraph.

Gardman CEO Stewart Hainsworth
Gardman CEO Stewart Hainsworth

The company was founded in 1992 by Paris Natar, who sold his controlling stake in the business to Barclays Private Equity in a deal worth £85m in 2007.

In 2011, Barclays sold its private equity arm in a management buy-out which re-launched as Equistone. 

Last year, Equistone lost control of the business and Gardman went in a debt-for-equity swap to a consortium led by Goldman Sachs, TPG and backed by Barclays and Lloyds.

Gardman has hired advisers at corporate finance firm Catalyst to manage the sale process, according to the Telegraph.

Meanwhile, the company is developing sales with Klondyke, Hillier and Choice, but is pulling out of B&Q.


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