Lighting and electricals chain Ryness has been sold to Marlowe Holdings, the holding company of Edmundson Electrical which supplies electricals to trade and industry.
Marlowe has acquired the business for an undisclosed sum from Epic private equity, which hired advisors Spectrum Corporate Finance in March to find a buyer, as revealed by Retail Week.
Ryness operates 12 stores and six trade counters within the M25.
Epic, which also has stakes in retailers Whittard and Past Times, acquired a stake in Ryness in 2003 and backed a management buyout of the business in 2006.
Clive Hatchard, former Land of Leather director and partner at Spectrum Corporate Finance, said: “Ryness is a niche business with a very strong London focus and as a result it attracted a lot of interest.
“The business is a natural fit within the new Group.”
Edmundson Electrical earlier ths month bought the £130m wholesale chain Electric Center frombuilding and plumbing merchant Wolseley.
Ryness gross turnover including VAT is expected to approach £13m in the year to June 2011, up from £11.6m the year before.