Electronics retailer Maplin is up for sale as private equity owner Montagu eyes a £200m exit from the business after ten years.

Montagu has appointed PwC to lead a sales process following a series of approaches from trade buyers.

It is thought a sale to a larger player in the sector or a rival private equity firm are the most likely options, according to The Telegraph.

Montagu is understood to have ruled out an initial public offering as it seeks a full exit from the business.

Montagu, whose past investments include the hair products business ghd and Quorn, tried to sell Maplin in 2011, appointing KPMG to lead the process.

Talks were held with private equity firms Blackstone, CVC and Advent International however negotiations ended over valuation differences.

Since then the business has invested £40m into the business focusing on online and revamping its stores. It has rolled out a new web platform which has allowed it to extend its range of products and it has also revamped its 214 stores.

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