Hyde-Based Educational Resources Supplier Findel Acquired by Leader in European B2B Ecommerce Manutan

March 2024

Hyde-based educational resources supplier Findel has been acquired by Paris-headquartered leader in European B2B ecommerce Manutan.

Manutan, which has a specialism in educational supplies, employs 2,200 people and operates 28 subsidiaries across 17 European countries, including the UK. The business offers in excess of 800,000 products to its customers and has a turnover of €946m. The company’s mission is ‘enterprising for a better world.’

Findel’s origins as an educational resources supplier can be traced back to 1817. Today, the company’s brands and websites offer more than 32,000 products to educators and parents based in the UK and overseas with the business exporting to 130 countries.

Headquartered in Hyde, Findel also has a distribution centre and offices in Nottingham and employs around 300 people. The company’s brands comprise Hope, GLS, Davies Sports, Philip Harris, and EuHu.

Findel is widely recognised as a market leader within UK educational resources supplies. The company’s current leadership team undertook a management buy out (MBO) of Findel from Studio Retail Group in April 2021. The MBO was supported by Leeds-headquartered private equity firm Endless.

Commenting on the acquisition, Findel chief executive, Chris Mahady, said: “Over the past three years, Findel has undergone a business transformation thanks to the incredible work and dedication of our people and the support of Endless.

“Our acquisition by Manutan marks the end of that journey and the beginning of an even more exciting one. Like Findel, at the heart of Manutan are values and a positive culture that guides everything they do along with an unwavering commitment to sustainability.

“This gives Findel a long-term sustainable home for the future which ultimately solidifies our position and will help us to continue to develop an even stronger customer proposition.

“In addition, Manutan’s leadership believes in fostering learning environments that inspire growth and innovation, so we are perfectly aligned.

“By joining forces, we will leverage our combined strengths in the UK and international educational supplies sectors to achieve even greater success together.”

All of Findel’s people have been retained following the acquisition and all commercial arrangements with customers and suppliers remain unchanged.

Owner and Chairman of Manutan Group, Xavier Guichard, said: “Following on from our strong growth in recent years, we’re delighted to be acquiring Findel, whose culture, focus on people, performance and shared values, is totally aligned with our own principles. We also share the same business model, which combines the strengths of digital technology (our e-commerce solutions) with a strong focus on sustainability, providing service excellence to customers and suppliers.”

Findel was advised on the acquisition by Clearwater and Walker Morris LLP and Manutan was advised by Cripps LLP (legal) and PWC (finance and tax). All values relating to the acquisition are undisclosed.