US Investor Eyes £150m Deal with Online Gift Retailer
- Great Hill Partners in advanced talks to acquire Notonthehighstreet
- US investor Great Hill Partners reportedly in discussions for £150m takeover deal
- Notonthehighstreet serves over 2.5 million customers, operates stagnant total revenues of £35m
- Founded by Holly Tucker and Sophie Cornish in 2006
- Current financial backers include Hubert Burda Media, Index Ventures, Fidelity
Great Hill Partners, a US-based investment company, is reportedly in advanced talks to acquire the online personalized gifts retailer Notonthehighstreet for approximately £150 million. The investor, which already backs home furnishings firm Wayfair, may not necessarily take full ownership but will likely buy a majority stake, according to sources close to Sky News. Founded in 2006 by Holly Tucker and Sophie Cornish, Notonthehighstreet serves as a marketplace for 5,000 small business-owners and has operated stagnant total revenues of £35 million for FY 2019. The company has been up for sale for several months, with bankers at Evercore seeking bidders, including London-based private equity firm Exponent. Notonthehighstreet’s current financial backers include German publisher Hubert Burda Media and asset management group Fidelity.
Factuality Level: 8
Factuality Justification: The article provides relevant information about Great Hill Partners’ potential acquisition of Notonthehighstreet, including details on the investment amount, the company’s background and financial performance, and the involvement of other investors. It also mentions the current state of negotiations. However, it lacks direct quotes or sources for some claims and could provide more context on Great Hill Partners.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential acquisition of Notonthehighstreet by Great Hill Partners and mentions the company’s financial performance. However, it lacks in-depth analysis or exploration of long-term trends or consequences of the deal.
Financial Relevance: Yes
Financial Markets Impacted: Great Hill Partners, Notonthehighstreet, Wayfair, German publisher Hubert Burda Media, Index Ventures, and Fidelity
Financial Rating Justification: The article discusses an investment deal between Great Hill Partners and Notonthehighstreet, which impacts the companies involved in the transaction and potentially affects their financial status. It also mentions Wayfair as a related company due to Great Hill’s existing investment.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of any extreme event in the last 48 hours.
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