M&A Deal Summary

Endless Acquires Hovis

On November 6, 2020, private equity firm Endless acquired food company Hovis from The Gores Group

Acquisition Highlights
  • This is Endless’ 5th transaction in the Food sector.
  • This is Endless’ 61st transaction in the United Kingdom.

M&A Deal Summary

Date 2020-11-06
Target Hovis
Sector Food
Buyer(s) Endless
Sellers(s) The Gores Group
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)

Target

Hovis

Wycombe, United Kingdom
Hovis operates baking and flour mills. The company produces a wide range of flours and bakery products using a blend of seeds and cereals for the craft and industrial bakers across the UK and Ireland. Hovis was founded in 1886 and is based in Wycombe, United Kingdom.

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Buyer(S) 1

Buyer

Endless

Leeds, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Endless LLP is an independent private equity firm that targets management buyouts and turnaround investment opportunities in a variety of industries. Endless invests in UK based companies with generating sales of £10 to £1000 million. Endless can commit up to £80 million for each transaction in the form of equity and/or debt. Endless will not invest in startups or companies with less than £10 million of sales. Endless was formed in 2005 and has offices in Leeds, Manchester and Solihull.


DEAL STATS #
Overall 64 of 75
Sector (Food) 5 of 7
Type (Secondary Buyout) 18 of 19
Country (United Kingdom) 61 of 72
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-07 MTI Technology

Godalming, United Kingdom

MTI Technology is a provider of IT storage infrastructure and security solutions to national and global enterprises. MTI Technology was established in 1987 and is headquartered in Godalming, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Evolutions

London, United Kingdom

Evolutions is a full-service post production house, delivering high-end quality work for the UK’s leading production outfits. Evolutions was founded in 1994 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.


DEAL STATS #
Overall 61 of 66
Sector (Food) 1 of 1
Type (Secondary Buyout) 12 of 15
Country (United Kingdom) 3 of 3
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-17 Meridian Medical Management

Windsor, Connecticut, United States

Meridian Medical Management is a provider of healthcare analytics services, outsourced revenue cycle management, electronic medical records, and IT programming to multi-specialty physician groups using the GE Centricity platform. Meridian Medical Management was formed in 2002 and is based in Windsor, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-11 VITAC

Canonsburg, Pennsylvania, United States

VITAC is a provider of closed captioning and other accessible media services. VITAC provides live and prerecorded captioning solutions in English and Spanish, video description, and digital media services for broadcast networks, cable TV, online video, and teleconferences worldwide. VITAC was founded in 1986 and is based in Canonsburg, Pennsylvania.

Sell -