Kelso Group has snapped up a minority stake in software and online retail group THG.
The deal, worth £2.7m, has seen the group acquire 0.4% of the shares in the Manchester-headquartered giant.
AJ Bell’s Russ Mould said: “THG has become the latest company to attract an activist investor. Relatively new outfit Kelso has picked up a 0.4% stake in the e-commerce specialist, saying it is undervalued and offering to help unlock that hidden value.
“THG chief executive Matthew Moulding doesn’t seem the type to welcome interference in his business, but other shareholders may welcome a new party putting pressure on the board to make changes.”
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