Suitors abuzz over Maplin after backers plug in for £200m sale

Michael Bow
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HIGH Street electronics retailer Maplin has been put up for sale with a price tag of up £200m after its private equity owners decided to exit the business.

Maplin, which reported sales of £213.5m for the year ending 2012, is owned by Montagu Private Equity and has about 230 stores across the UK and Ireland, and a growing online presence.

Its internet sales rose nearly six per cent last year, and the company enjoyed its best Christmas trading period in five years in 2013, reversing a difficult period for the group during the high street slump when it made heavy losses.

Montagu, which has received approaches from potential suitors for the firm, has appointed PwC to help prepare the firm for a sale.

It had previously tried to sell the business, led by boss John Cleland, in 2011 but discussions came unstuck over valuations.

Montagu declined to comment.