Elysian Capital crystallises a 4.3x return on The Pebble Group exit

The Pebble Group

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Elysian Capital crystallises a 4.3x return on The Pebble Group exit

02.12.19

Elysian Capital announces the successful IPO of The Pebble Group plc (The Pebble Group) and admission of the Group’s shares to trading on the London Stock Exchange AIM market.

The IPO values the business at £176 million. Elysian is selling the majority of its shares in The Pebble Group for cash, equal to a 3.2x return on its original investment. It will retain a 13.9% stake in The Pebble Group, which, at the placing price of 105 pence per share, represents a further 1.1x return.

The total valuation for Elysian Capital II LP’s investment in Pebble is therefore 4.3x cost at the offer price.

The Pebble Group is a provider of products, services and technology to the global promotional products industry (www.thepebblegroup.com) and is comprised of two distinct and differentiated businesses. Brand Addition is a leading provider of promotional products to global brands, based in Manchester but with operations in the USA, Germany and China. Facilisgroup provides subscription based services to SME promotional product distributors in the USA and Canada.

Elysian acquired Brand Addition in May 2017 and added Facilisgroup in November 2018, creating Pebble as a group holding company for both businesses. It is expected that the first dealings on AIM will commence on 5th December 2019 with the ticker “PEBB.L”. A copy of the “Placing and proposed Admission to Trading on AIM” announcement issued by Pebble is attached to this release.

Ken Terry, CEO of Elysian Capital said:

“We would like to thank Christopher Lee and Claire Thomson from Pebble, together with their excellent management team, for their amazing efforts and good humour while working with Elysian over the last 2 ½ years. The team has built a world class business that will continue to go from strength to strength as a public company and we thank them and wish them well for the future. We would also like to thank Berenberg Bank as Broker and the other advisers for their hard work during this process”.

The IPO of The Pebble Group represents the first exit from Elysian Capital II LP which was raised in 2015.

 

For further information, please contact:

Ken Terry, CEO, Elysian Capital LLP                   ken@elysiancapital.com

Christopher Lee, The Pebble Group plc              Chris.Lee@Thepebblegroup.com

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