99p Wholesaler Selected As Finalist's For Young Entrepreneur Award

Leicester University well represented in business awards finals

Three contenders to have made through to the finals of the 2012 Midlands Business Awards all have strong links with the University of Leicester.

They are among 47 finalists competing in nine categories, which bring together the best of Midlands business and culminate in a gala awards ceremony on Friday 3 February at the Hilton Metropole Hotel in Birmingham.

Professor Bryan Williams, of the Department of Cardiovascular Sciences at Leicester University, is among the final five in the Midlands Innovation of the Year category. This is principally for his work with colleagues in the NHS and the private sector to develop much more accurate blood pressure testing equipment.

His university is shortlisted alongside Birmingham, Aston, Derby and Northampton in the Midlands University of the Year section.

Meanwhile one of the final six in the Young Entrepreneur category also has a firm relationship with the same institution. 99p Wholesaler.com is the third company to have been set up by Leicester graduate Suleman Sacranie. 99p Wholesaler features daily deals across the FMCG industry at competitive prices and offers branded goods for bulk purchases by retailers in a similar way to the traditional cash and carry model but online.

This is the sixth year that the awards, organised by Leamington Spa-based UK Special Events, have taken place. According to its MD Harj Sandher, the quality of the entrants has increased again this time around.

“We have some very impressive entrants in the 2012 awards and we are really excited to find out who will take the crown as the top performers in all the categories of the competition. The strength of the awards reflects the calibre of company and individual putting themselves forward.”

Last year’s overall winner as Midlands Business Person of the Year was Daniel Gidney, chief executive of the Ricoh Arena in Coventry. He has no doubt of the benefits of winning the award.

“It was fantastic for me as an individual but without doubt the Ricoh has benefitted from the award. It helped in attracting the National Local Enterprise Partnership conference, with David Cameron and Nick Clegg, to the Ricoh,” he said.

ENDS

The full list can also be found at:
http://www.midlandsbusinessawards.com/2012-finalists.html

For more information, please contact:
Harj Sandher, UK Special Events
07949 632388 or info@ukspecialevents.com

Issued by Guy Ashworth,
HCK Communications,
01926 420800 / 07971 680883 or info@hckcomms.co.uk

Private Equity Investor Quashes Rumors

Press Release - Equity Plus Partners – London 6th September, 2011

Equity Plus Partners today commented on the recent speculation that 99pWholesaler may have been sold to a trade buyer.

Atul Devani of Equity Plus Partners Said, "The Company has been receiving an unprecedented number of calls from the press and trade to confirm if the Company had been sold. We would like to inform all our customers and business partners that no such transaction has been tabled to the Company or any formal offers received. 99pWholesaler was set up to offer a new and unique method of bringing together daily deals from an enormous source of manufacturers, wholesalers and trade suppliers. We know that independent retailers are consistently being put under pressure to search for deals as the traditional methods of supply have relied upon a few national Cash and Carry outlets who have maintained their domination of the industry for many years”.

Suleman Sacranie, Managing Director also commented, “Our aim has not been to compete directly with these outlets that will often stock a higher range of products, but to quench the thirst of Independent Retailers to find deals at better prices, with the convenience of having goods delivered free, directly to their door. There is a constant search for the top 20% of products which often can be found cheaper than in the traditional Cash and Carry. We aim to make that easier by providing a platform that makes these deals available directly to the retailer. Cash and Carry’s will continue to play a part in supplying businesses for some time to come but we want to make the Retailer’s requirement to find deals from one site a reality by giving them what they want, A deal everyday, of every week, of every year”.

Commenting further on the recent speculation on Cash and Carry’s wanting to buy the Company, Atul commented:

"It is clear that we have something to offer that has not only captured the attention of our customers, but also the attention of the traditional players.
We are happy to work with Cash and Carry’s and respect very much the service they provide. However, there are many localised wholesale providers who cannot reach the custom of all businesses across the UK and we can help change that, for the mutual benefit of both suppliers and our customers.

We have invested in a dedicated and talented management team who continue to remain focussed on launching the exciting 2nd and 3rd phases of our business which will further enhance our offering bringing a greater number of suppliers and ranges of products and change the way business is done in this industry".

About Equity Plus Partners

Equity Plus Partners is an investment management firm, which was formed in 2008 by Atul Devani, Richard Scott and a team of highly experienced entrepreneurs, each of whom has successfully built and exited a number of companies including trade sales and public listings on the AiM market prior to forming Equity Plus Partners. Their objective is to invest in or acquire technology led businesses and companies that they believe have the potential to reshape the markets in which they operate or indeed create an entirely new market. They provide management assistance to, established or new start-up businesses in the UK and beyond. The EPP management team has significant expertise in operating in publicly quoted markets, in both principal and advisory capacities. Our operational experience in areas such as sales, marketing and financial management, coupled with our skills as business entrepreneurs, make them an ideal partner for any business that is looking to grow and develop - and to ultimately create the returns for all concerned.

Major cash boost for entrepreneur

A young entrepreneur has won a six-figure investment from a private equity fund.

Suleman Sacranie won the substantial investment to help him launch 99p Wholesaler.com, which went live earlier this month.

The cash and carry site sells soft drinks to corner shops and independent supermarkets from its office at the De Montfort University Business Innovation Centre.

It will start selling crisps and sweets in the next few weeks before moving into other products such as cigarettes and alcohol.

The investment was overseen by Luton-based Equity Plus Partners, which was launched by partners Atul Devani and Richard Scott in 2008.

Mr Devani said they had brought together a number of investors to put between £50,000 and £100,000 each in the business and take a majority stake.

He would not divulge the total amount, but said the investors included Peter Carpenter, a former director of telecommunications firm One-2-One.

Mr Sacranie already runs a online discount supermarket called 99p Shopper.com, offering food and household products for 99p or less, which secured £100,000 of in-kind help and support from Nottingham web development company Eventure in 2010.

He was encouraged to launch the wholesale website after pitching to Equity Plus Partners at a Dragon's Den type event last year.

He said: "It's been really exciting but a lot of hard work and lots of long hours.

"99p Shopper.com is still going but the main focus now is the wholesale website, where the profit margins are higher."

He said the site offered deals and sourced straight from the manufacturer, guaranteeing the highest quality products.

The 21-year-old, from Uppingham Road, Leicester, quit a chemistry degree at the University of Leicester to go into business.

He said offering an online service meant he could undercut traditional cash and carries because there was no need to pay for store premises and warehouses.

It is also more convenient for customers and the business has a delivery contract with Broughton Astley's Cobley Transport.

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