A major Harrogate employer has been the subject of a secondary management buyout, and is promising to create dozens more jobs in the town.
High Street TV (HSTV) is a multi-channel retailer, selling licensed and own-branded products via television shopping channels in the UK and in more than 70 other countries.
It employs 138 people at its Beckwith Knowle HQ in Harrogate, and also has its own filming studio in Los Angeles.
The management buyout, which is backed by private equity investor Endless LLP, is led by the two founders, Andrew Malcher and Jim Coleman, who originally had backing from private investors led by Gordon Black CBE.
Mr Malcher told the Advertiser series: “In terms of future growth and job security, this is absolutely great news for Harrogate. I’m proud to have the business in Harrogate and we will never, ever leave.”
HSTV’s licensed products are available at over 4,500 retail outlets across 35 retail groups including Argos, ASDA, John Lewis and Selfridges.
Since its launch in 2008, the company has seen double-digit annual growth and this year expects annual sales of £70m and profits of £10m.
Garry Wilson, partner at Endless, said: “Andrew and Jim are two remarkable entrepreneurs who have built an incredible business under the tutelage of Gordon Black CBE and surrounded themselves with a great team in Harrogate.
“High Street TV is clearly the market leader in multi-channel, direct response TV and the trusted partner for businesses who want to launch innovative products into the UK and international markets.”
HSTV’s management plans to increase its Harrogate headcount to around 200 over the next 12 months and to develop the business internationally.
Mr Malcher said: “Endless provide us with tremendous experience and financial resource that will enable us to develop into a substantial global business.
“We are excited about continued organic growth in the UK and overseas, in addition to strategic acquisitions where Endless will add further experience and opportunity.”