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Endless backs £70m buy-out of Crown Paints20/08/2008. Source: AltAssets. 
 Buy-out and turnaround specialist Endless is backing the MBO of UK paint company Crown Paints from Dutch manufacturing corporation Akzo Nobel. The size of the deal was not disclosed, but was reported to be in the region of £70m.
The company has annual revenue of approximately £180m and employs 1,500 people. Crown operates two factories in Darwen and Hull, with warehouse depots in Warrington, Dublin and Belfast. The company also has a network of 126 Crown Decorator Centres across the UK and Ireland.
Endless managing director Warwick Ley said, 'Although market conditions are tough, we believe Crown is a brand well positioned for resurgence as evidenced by its recent growth in market share and feedback from key customers. This will be supported by a significant level of investment behind the business.
'There were many challenges associated with the transaction, however with the combined approach of management and our advisor group, we were able to deliver a certain transaction in a short timescale to the vendor,' he added.
Earlier this year, Endless closed its latest fund, Endless Fund II, on £164m, exceeding the fund's original target of £120m.
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