Endless investment The Works to be admitted to the main market of the London Stock Exchange

IPO transaction sees Endless investment move to public ownership after a ten year investment in the UK retailer

Having initially acquired the business in April 2008 Endless were pleased to support The Works on its proposed initial public offering at a market capitalisation on admission of approximately £100 million.

The Company has applied for admission to the main market for listed securities of the London Stock Exchange and it is expected that dealings will commence at 8.00 am on 19 July 2018, with the publication of the Company’s prospectus expected later today.

The Works is one of the UK’s leading multi-channel specialist retailers of value gifts, arts, crafts, toys, books and stationery, and occupies an attractive position within the high growth discount retail sector, offering a differentiated proposition as a value alternative to full price specialist retailers.  The Group offers its dynamic and diversified product offering through its nationwide network of over 447 branded stores and concessions, as well as through its fast growing and profitable e-commerce platform, www.theworks.co.uk.

Endless invested into The Works in 2008 and we are delighted to have witnessed one of the most remarkable business transformations we have been involved with, as The Works has become one of the UK’s pre-eminent discount retailers.  

This transformation has included the development of new products and ranges, e-commerce and multi-channel offerings, loyalty and membership schemes.  This is in addition to a new store format and opening 134 new locations across the UK in the last three years alone.

This growth was enabled by further investment in 2017 when the business moved to a new 183,000 square foot support and distribution centre which is strategically located in Coleshill, Birmingham and which provides the capacity and capability to support up to 1,000 stores and concessions across the UK and RoI.

Kevin Keaney, Chief Executive Officer of The Works, said:

“Today represents a significant milestone for The Works and we’re extremely pleased with the level of interest we’ve received from investors in our business. They’ve seen what our customers see every day – a unique and exciting retail experience that combines value, quality and variety that’s available online and in-store. With a highly experienced management team, energised staff and compelling offer, we are well-positioned for further growth and we look forward to welcoming new shareholders to join us in this exciting new chapter for the business.”

James Woolley, Partner at Endless LLP, said:

“We are delighted to see our story with The Works end in such a positive way with the announcement of the company’s admission onto the London Stock Exchange next week.  This story would not have been possible without the skill, hard work and determination of the management team at The Works together with all of its employees who have created a very special business of which we are immensely proud.”