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Business

Published on March 17th, 2016 | by The GC Team

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Ultimate Products eyes sale or IPO

Manchester-based Ultimate Products, which sources and distributes electrical goods and housewares, is said to be considering an IPO or sale of the business.

Sources say it has appointed Shore Capital to explore the options.

The company, which has the licence to sell Russell Hobbs homeware products to retailers and owns brands such as Beldray, Intempo and Giles & Posner, was founded in 1997 by Simon Showman and partner Barry Franks and has grown to deliver sales of c.£60 million. It has operations in around 30 countries.

Retail partners include John Lewis, Argos, Robert Dyas and Shop Direct.

In 2014 its biggest shareholder, private equity firm LDC, bowed out via a management buyout.

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