Today Borders (UK) Limited finalized the company’s management buyout, a move financed by Valco Capital Partners. Bookseller reports that no buyout figures were revealed.
According to a press release at BookTrade, the company’s CEO Philip Downer and Finance Director Mark Little guided the buyout. In 2007, the company was acquired by Risk Capital Partners who recently decided to seek new investors for the bookseller.
CEO Philip Downer had this statement: “We are delighted that we have been able to secure the future for Borders in what are exceptional times for UK retailing and the global economy. The Borders management team looks forward to continuing to develop our innovative approach to bookselling, driving sustained growth and success in the future, and strengthening our unique position in the UK book market.” (Via Sarah Weinman)