Sector: Business Goods
Deal type: Management buyout
Investment date: May 2017
Realisation date: December 2019
We helped promotional products provider Pebble Group – then Brand Addition – seize attractive opportunities to broaden its services and geographies, organically and through acquisitions.
“With Elysian we found a partner who could help us to continue the business’ growth, both UK and international. Elysian’s strong and consistent interest in the business and added value operating partner approach were very appealing and enabled the continuation of our growth.”
Chief Executive, The Pebble Group
The Manchester-based business was already a leading provider in the design, sourcing and distribution of promotional merchandise to global corporates when we acquired it in 2017.
Its offer included hosted web shops, which could be standalone or integrated with clients’ intranets and e-procurement systems for a complete end to end service.
Brand Addition had a strong track record, impressive management team and the opportunity to win a share in a fragmented market.
There were few competitors that could match Brand Addition’s global footprint and client service proposition. It had offices in the UK, US, Germany, Turkey, Russia and China.
During our investment, the business significantly improved technology and operational efficiency, and its overall sales pipeline management.
We supported the company’s acquisitions, culminating in its December 2018 bolt-on of Facilisgroup, a provider of subscription-based services to promotional product distributors in the US and Canada.
Through its @ease proprietary software, Facilisgroup offers an enterprise resource planning platform that enables its network of partners to improve order management, customer relationship management and sales analysis and reporting. It also offers access to favourable terms with preferred suppliers.
As a result of the acquisition, the now technology-driven company rebranded as The Pebble Group, retaining the strong Facilis and Brand Addition brands and allowing them to focus on their respective specialist corners of the market.
The Pebble Group was admitted to the London Stock Exchange’s AIM in December 2019 with the initial public offering valuing the business at £176m. On the sale of our final shares, the investment gave us a 4.3x return.
Under our ownership: