May, 2011
GLP advises Weight Partners on the acquisition of Boxclever
LONDON (9 May 2011): Global Leisure Partners LLP (''GLP'') is pleased to announce it has advised Weight Partners on the acquisition of TV and white goods rental business Boxclever. The deal was for an undisclosed sum and safeguards more than 300 jobs.
Weight Partners has purchased all the shares of Boxclever – which was created in 2000 by the merger of Radio Rentals and Granada Rentals – from the US private equity firms Cerberus and Fortress Investment Group. Boxclever no longer has stores and operates an online model that delivers sales of more than £40m. It has nearly 300,000 units rented out to customers.
Jim Weight, the managing partner of Weight Partners, said:
"Although a declining industry, we see a lot of value to be driven from continuing to serve existing customers to ensure their continued satisfaction with Boxclever and its service to them."
Mervyn Metcalf commented that:
''We are delighted to help Jim, one of our Operating Partners, in another deal and look forward to assisting in the future growth of Weight Capital Partners. Additionally, GLP are delighted to announce our fifth deal of 2011 and further our footprint in the online media and retail sectors."
About GLP:
GLP is the leading independent global M&A advisor to the consumer and leisure sectors, with over £30 billion in complete transactions from 2005 to date. We specialize in working with financial partners to structure proprietary transactions, leveraging our deep sector knowledge, and the operating expertise of our Operating Advisors.
Contact:
| Mervyn Metcalf |
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| Managing Director |
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| Global Leisure Partners LLP |
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| 20 Balderton Street |
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| London W1K 6TL |
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| United Kingdom |
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| Tel: +44 (0) 20 7016 8050 |
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