P Capital Partners has provided a GBP 29 million unitranche loan to the United Kingdom-based discount retailer The Works.
The Works is a leading value retailer with some 300 stores throughout the UK. The company sells high quality gifts, stationery, arts & crafts, toys and books at discount prices. Established in 1981, The Works is currently owned by Endless LLP and its Chairman Anthony Solomon. It has been developed into a diversified value retailer with a true multichannel business, combining bricks and clicks with creative marketing across traditional and online media, while maintaining its historically strong position in the book discount market.
P Capital Partners considers The Works as uniquely positioned to continue to benefit from the strong underlying growth in UK value retailing through its strong proposition and appealing product ranges in a number of rapidly growing market segments. Furthermore, we are looking forward to working with the company and its owners to support the continued development of the business.