Private equity firm Inflexion has completed the acquisition of multichannel retailer Ideal Shopping Direct for £78.3m.

Ideal delisted from AIM on June 23.

Ideal specialises in lifestyle and niche craft and hobbyist products via TV shopping channels, the internet and mail order catalogues. The TV channels broadcast to over 23 million households.

John Hartz, managing partner of Inflexion said: “Inflexion is very pleased to have completed the public-to-private acquisition of Ideal. Ideal is a great example of the type of business we seek to invest in, being a market leader with a strong management team, operating in a growth sector. The convergence of the internet and TV shopping experiences are generating great opportunities for the business.”

Mike Hancox, chief executive of Ideal said: “I have enjoyed working with the Inflexion team as we have progressed this complicated deal. They have been committed to the transaction and I am excited at the prospects for Ideal Shopping, with the support of Inflexion.”

John Hartz, Tim Smallbone, Catherine Richards and Malcolm Coffin led the transaction for Inflexion. Hartz and Smallbone will join the board as non executive directors.