Acquisition of Heffers Art & Graphics by Tindalls the Stationers

Tindalls the Stationer logo

PEM Corporate Finance advised Tindalls on the acquisition of Heffers Art & Graphics retail business in Cambridge from Blackwell’s. We conducted due diligence on the target and also assisted in raising finance for the deal.

Comapny background

Tindalls was established in 1887 as a printer of sheet music but now sells books and stationery from a network of shops in Cambridgeshire. It has grown rapidly and now has a successful Commercial Division supplying stationery direct to businesses and a central warehousing operation.

Heffers Art and Graphics, acquired by Tindalls, is based in King Street, Cambridge. It is regarded as the prime art material retailer in the town and has a strong and loyal customer base. The shop was originally part of the Heffers book shop group which was acquired by Blackwell’s just over 5 years ago.

What was special

The vendors had appointed advisers to market this non-core business and Tindalls were the successful buyer following several rounds of negotiations.

Deal structure

Debt financing was produced by Barclays bank.

 

Read the press release

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