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A difficult balance of satisfying multiple stakeholders was achieved with great skill by the team at Convex

Seni Glaister, CEO

Deal Value: £24m

Nathalie Hodgkinson

Partner

The Book People | September 2014

Convex Capital originated, led, structured and completed the sale of The Book People Limited, the UK’s largest independent book retailer, to Endless LLP.

The Book People was founded by Ted Smart and Seni Glaister in 1988 and is based in Godalming, Surrey. The Company generates revenues of c.£100m and employs 450 people with 365 self-employed distributors operating nationally. TBP has a significant and growing online presence and Endless have backed Seni Glaister to take TBP forward through its next stage of development.

The deal team was led by Mike Driver and included Nathalie Hodgkinson, Pete Cheney and Warren Meggitt.

Mr Driver said: “The Book People is a great business with sales of £96m, built up from his garage by a Ted Smart, a remarkable man.”

“Mr Smart was keen to see the business continue as an independent company as an alternative to Amazon and as an avid reader myself it was great to be involved in this important transaction.”

The Convex difference: achieving a great result for all stakeholders

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