Elysian Capital II LP Acquisition with management of Sambro International
Elysian Capital II LP has acquired, in conjunction with the company’s management, Sambro International Ltd. This is the first platform deal in the Elysian Capital II LP Fund which closed in the summer 2015 at £250m.
Sambro is the UK’s leading creator, designer, producer and distributor of licensed children’s products covering a wide range of product categories and world famous franchises. (www.sambro.co.uk)
Based in Bury with offices in Hong Kong and the Netherlands, Sambro has more than doubled sales over the last 3 years to £60m under the leadership of Tom Duffy (MD), Nikki Samuels and Jeremy Clynes. The company is now a trusted partner to global brand owners such as Disney, Universal and Nickelodeon who value the company’s innovation, excellent products and access to its wide network of retailers. Recent growth has been both domestic and international supported by more franchises, new product categories, compelling products and new territories – and this is set to continue with exciting plans for the future.
Ken Terry, CEO at Elysian Capital said “the Sambro team has done a fantastic job in creating a market leading licensed products business. We were attracted to the high growth delivered by the business, its in-house product design team and partnership approach with brand owners and retailers. But most importantly we are backing a passionate team with tremendous ambitions for their business whether that be further organic growth or through acquisitions. This is a fitting first investment for our new fund that meets our desire to back aspirational management teams who would benefit from our differentiated and aligned approach.”
Tom Duffy, MD of Sambro, said, “We are thrilled to do this deal with Elysian Capital who quickly understood and appreciated what makes our business special, who have shown real belief in us as a management team and who have taken such a keen interest in our business from day one. We have ambitious plans and in Elysian we have a partner with genuine operational in-house experience that can support us through the next phase. Our products are enjoyed by children throughout Europe and beyond and we are excited to continue this growth story in partnership with our valued brand partners and retail customers.”
Elysian Capital was advised by PwC (corporate finance, financial and commercial due diligence); Eversheds (legal); Aon Group (Insurance) and Crimson & Co (supply chain); Sambro shareholders and management were advised by KPMG (corporate finance) and DLA Piper (legal). Senior Debt and Working Capital Facilities were provided by Barclays Bank, Manchester who were advised by Addleshaw Goddard.