The Book People MBO named Deal of the Month
The management buyout of discount bookseller The Book People, which has a turnover of £96m, has been named Insider's Deal of the Month.
The Surrey-based company, which employs more than 550 staff, was acquired by chief executive Seni Glaister in a deal backed by equity firm Endless.
Glaister bought the business from previous owner Ted Smart. The company, based in Godalming, was founded in 1988.
Chief executive Seni Glaister said: "I'm thrilled that Ted has given me and the team this opportunity to take The Book People forward and I'm delighted to be working with Endless, who share my enthusiasm for the future of bookselling.
"I don't think there has ever been a more exciting time to be in this business and I am very much looking forward to the next chapter."
Insider digital news editor David Casey said: "Despite Amazon's dominance in the discount books market, Endless already has experience in this sector following its involvement with The Works. This specialist knowledge and expertise should help The Book People to open a new chapter in its history."