It has been announced that NFT Distribution Operations has been sold to the private equity investor EmergeVest at a cost of £60 million. The distribution company operates largely in the UK and Ireland and the new deal includes integrated debt funding of up to £42m provided by Investec Growth & Acquisition Finance.

Speaking about the sale, Chief Executive David Frankish stated: “We have been diligent in our search for a new investment partner and are really pleased to be working with EmergeVest who have exhibited a great understanding of our market and a passion to help NFT fulfill its potential.”