Endless Fund V managed by Endless LLP and Management team of Findel Education Limited led by Chris Mahady, Mark Whittaker and Martin Jones acquired Findel Education Limited from Studio Retail Group plc (LSE:STU) for ?30 million on April 16, 2021. Consideration of ?30 million is paid in cash on a debt free, cash free basis on completion. In addition to the Consideration, Studio Retail Group has made available a working capital facility of ?2 million to Findel Education. As at 25 September 2020, Findel Education had gross and net assets of ?81.6 million and ?17.2 million respectively. The net cash proceeds will be used to make a voluntary payment to the Group's defined benefit pension fund of ?9 million with the remainder used to reduce Studio Retail Group net debt. Paul McClenaghan, Chief Executive Officer of Victoria Plum will be appointed as Chairman of Findel Education following the acquisition. Matthew Blawat, Ashish Burman and Francis North of Stifel Nicolaus Europe Limited acted as financial advisor for Studio Retail Group. Andy Ross, David Isaacs, Adam Keasey, Stefan Nowakowski and Linda Nguyenova of Endless LLP acted as due diligence advisor for Endless LLP. Debbie Jackson and Adrian Moss of Walker Morris acted as legal advisor, Steve Heath of KPMG acted as accountant and Keith Pickering of Alantra acted as financial advisor for Endless LLP. Dan Shreeve of Palladium acted as due diligence advisor for Endless LLP. Jane Haxby of Squire Patton Boggs (UK) LLP acted as legal advisor to Studio Retail Group PLC. Endless Fund V managed by Endless LLP and Management team of Findel Education Limited led by Chris Mahady, Mark Whittaker and Martin Jones completed the acquisition of Findel Education Limited from Studio Retail Group plc (LSE:STU) on April 16, 2021