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Convex understand e-Commerce, they understand business and they understood me

Jonathan Ruff, Founder

Deal Value: $31m

Neil Worsley

Managing Partner

LEDHut | September 2014

Convex Capital originated, led, structured and completed the sale of LEDHut.com to US based Batteries Plus Bulbs Inc, in a deal that values the business at up to $31m.

LEDHut.com is Europe’s leading specialist online retailer of high quality own branded LED lighting products.

The developments of the market leading LED brand LumiLife, together with proven ability to expand the business in to Europe were both key attractions for the buyer.

LED Hut was established as an online retailer in March 2011 when Jonathan Ruff identifi­ed a gap in the market for an online provider of high quality LED lighting products.

Since this time, the Company has grown into the leading specialist online retailer of LED lighting products, with in excess of 300,000 unique visitors per month and Revenues of $28m.

The deal underlines Convex Capital’s excellence in advising e-Commerce businesses and further emphasises the team’s ability to find highly strategic overseas acquirers.

Batteries Plus Bulbs, backed by Roark Capital from Atlanta, USA, was uncovered by Head Analyst, David Kandola.

The Convex difference: leveraging the appetite generated from a number of international strategic acquirers

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