Modelzone in £5.6 million MBO

LDC, private equity arm of Lloyds Banking Group, has backed a Management Buy Out of Modelzone Holdings.
Author:
Publish date:
5_Pocoyo.jpg

Modelzone Holdings is the owner/operator of Modelzone, a model retailer, and Amerang, wholesale agent in the UK for overseas suppliers in the model and hobby industry.

The buy out was led by CEO, David Mordecai and was supported by the group’s new non-executive chairman, Terry Norris.

LDC’s initial £5.9 million investment will be supported by a further £3.6 million of funding over three years to enable Mordecai and his team to implement an accelerated retail roll-out plan, a core element of the investment strategy. In addition the group will make selective acquisitions.

Mordecai, has made key appointments to the team, including Terry Norris as non executive chairman and non-executive directors Julian Tucki (previously The Works) and Paul Worthington (previously Kingfisher).

Together the new team brings over 75 years of retail experience, including store roll-outs, retail format development, merchandising, sourcing and online sales.

Modelzone offers a broad range of high-quality models including plastic kits, die-cast collectibles, remote control vehicles, railways and slot racing.

The company is a niche retailer and caters for both the casual shopper and dedicated collector alike.

Modelzone operates from 29 stores across the UK with outlets in Bluewater, Lakeside, Metro Centre, The Trafford Centre and Meadowhall, as well as stores in major cities such as London, Liverpool, Manchester, Nottingham and Leeds.

Related

10_martin-carr-modelzone.jpg

INTERVIEW: Martin Carr, Modelzone

In his first interview since joining the kits and collectables retailer as chief executive last August, Martin Carr speaks about his plans to improve ModelZone?s core categories and why there?s a long way to go until it becomes THE destination for enthusiast customers.

5_Pocoyo.jpg

Argos rises amid sale talk

Argos and Homebase owner, Home Retail Group, declined to comment today on reports it is being eyed by private equity groups Blackstone and Kohlberg Kravis Roberts.

Featured Jobs

GAMEPLAN LOGO 3D hi res

Marketing Director UK

Gameplan I Southeast of England I Salary: Competitive I Date Published Monday 7th January 2019

Rainbow logo landscape_home of classic Final

Product Manager

Rainbow Designs Ltd I Olympia, London I Salary: Competitive I Date Published Wednesday 16th January 2019