RJD completes sixth exit from its second fund

RJD Partners ("RJD") has sold its investment in Character World, the UK’s leading licensed bedding specialist, in a secondary buyout announced today.

The transaction values Character World at £36 million, giving a return to RJD of 2.9x its original investment. Character World is the sixth realisation from RJD’s second fund, RJD Private Equity Fund II.

RJD backed the £20 million buyout of Character World in April 2008.

John Dillon, RJD Partners

We are delighted to have worked with Danny, Mark and a high quality team at Character World. With RJD’s support the team have built the company into a clear market leader in its field and the business represents a compelling acquisition given its continued growth prospects both domestically and in Europe. This transaction delivers a highly successful exit for RJD and our funds.

Having originally been founded in 1998, Character World has grown to become the market leader in its field with an extensive retail customer base and the market leading portfolio of character and brand licences.

Under Danny and Mark Schweiger, Joint Managing Directors, Character World has achieved significant success and substantial growth.

RJD has a strong track record of investing in the support services sector, previously achieving successful realisations with Teaching Personnel and IPES.

RJD Partners and the other shareholders of Character World were advised by teams led by Mike Reeves and Gareth Iley at Clearwater International LLP (corporate finance advice) and Ian Gillis and David Mkhitarian at Hill Dickinson (legal advice).

Danny Schweiger , Character World

We’re delighted to be taking Character World forward into the next phase of our exciting journey. My brother Mark and I will continue to run the business and our focus going forward will be on growing our UK business whilst becoming a successful international company. The future is full of opportunities that we intend to grasp.

The contents of this news release are intended for information purposes only. RJD Partners Limited does not provide investment advice and we strongly recommend that before making any decision to invest or engage in any investment activity, you should obtain proper professional advice. See our full terms & conditions. RJD Partners Limited is authorised and regulated by the Financial Conduct Authority in the conduct of investment business in the UK. RJD Partners Limited is registered in England and Wales No. 04245768. Registered office: 8/9 Well Court, London EC4M 9DN.

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