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Charterhouse explores £700m IPO for greetings card retailer Card Factory

3 Jun 2013

UK-based private equity firm Charterhouse Capital Partners could be in line to exit greetings cards outlet Card Factory if plans for a £700m IPO go ahead.

The firm has brought on Goldman Sachs to explore a potential exit, the Sunday Times reported.

Charterhouse bought the UK retail chain, which has 650 stores, in March 2010 in a deal thought to be worth close to £350m.

Earlier this year AltAssets reported that Charterhouse was considering a 12 month extension to the investment period of its €4bn ninth fund.

Charterhouse told investors that it required an extension as it had only deployed 55 to 60 per cent of the Charterhouse Capital Partners IX fund. The potential fund extension, which will become necessary if the firm fails to invest the rest of the capital by March next year, could delay the launch of its next vehicle.

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