Great Hill Partners, a growth-oriented private equity firm, has purchased notonthehighstreet, an online marketplaces for handcrafted products and personalized gifts. Great Hill Partners will become the majority shareholder in the business, with existing investors Burda Principal Investments and Industry Ventures also remaining as shareholders.
Michael Kumin, managing partner at Great Hill, stated “While e-commerce adoption has accelerated over the last twelve months, notonthehighstreet’s focus on curating products from the UK’s best small businesses has enabled the company to stand out. We are excited to help the company build upon its current momentum and expand the NOTHS online marketplace to a growing number of UK consumers and small business Partners.”
Claire Davenport, CEO of notonthehighstreet commented “notonthehighstreet has been the online home of the UK’s best creative small businesses since 2006, and business has boomed for our marketplace in the past 12 months. With more people shopping online and choosing to support small businesses than ever before, notonthehighstreet has become a go-to platform for people across the UK who are seeking unique ways to improve their home environment, discover new ways to spend their time and find thoughtful ways to stay connected with loved ones.”
Evercore served as the exclusive financial advisor to notonthehighstreet while Arma Partners served as the exclusive financial advisor to Great Hill Partners.