News
Cavendish advises on the sale of Best Direct
1 June 2009Cavendish Corporate Finance LLP is pleased to announce the sale of the assets of Best Direct TV to Industex, a Spanish based purchaser.
Founded in 1991, Best Direct is a leading television shopping channel operator in the UK. With an international reach covering Germany, Austria, Switzerland, Holland, Belgium, Japan, the UK and US, Best Direct sells innovative household products that are either developed in-house or sourced on an exclusive basis from a variety of trusted suppliers.
Industex develops, markets and distributes mass appeal consumer products worldwide through multiple channels of distribution, including Direct Response TV.
The sale of Best Direct is the culmination of a long working relationship between Cavendish and the Best Direct shareholders, which started with the successful sale of their interests in William Levene Ltd in 2006.
Adhering to the client's specific requirements, Cavendish managed an expedited full sale exercise, including buyers from around the world and several different sectors within the media industry. Industex was identified early in the sale process as a strategic acquirer that was looking to break into the UK market.
Min Luk, the Cavendish partner who led the sale, commented:
"We have worked with the Best Direct shareholders for some time and are delighted that we were able to identify an international buyer that not only met our pricing requirements, but also provided the correct platform for the growth of the Best Direct business in the future.
"Although transactions are difficult to close in the current economic climate, Cavendish has again demonstrated its ability to get deals over the line."