The "significant investment" by US private equity firm KKR into Cheshire online retail group The Hut has been crowned Insider's Deal of the Month for July.
A consortium led by the KKR has taken a stake in the Northwich-based business, understood to be 20 per cent, in a deal which valued the company at £500m.
The Hut, which is run by Insider 42 under 42 Matt Moulding, is backed by former Tesco chief executive Sir Terry Leahy and Sir Stuart Rose, who formerly led M&S. Its brands include Zavvi and I Want One of Those.
North West Business Insider features editor Rupert Cornford said: "The announcement that private equity house KKR had invested in the business, sends a clear message what's to come.
"The group has attracted its fair share of interest since the business was set up in 2004 as it quickly built revenues. But the journey to profitability hasn't been clear cut; it has spent a lot of money buying businesses and brands and investing in its technology platform.
"With a growing international presence, and continued appetite to acquire, the fact that it is now making money has turned on the investment taps the business wanted. It hasn't had, or necessarily wanted, the profile of others in the sector. But it's a serious business which has now taken on investment from an equally serious investor."
Addleshaw Goddard's Manchester office advised The Hut.