Funds advised by HIG European Capital Partners LLP and its debt affiliate, Bayside Capital, have acquired Bezier, the UK’s largest provider of integrated point of sale marketing services.
The transaction was facilitated by the acquisition of Bezier’s senior debt with a face value of over GBP70 million, and will see HIG inject significant new capital into the business.
In the past several years, Bezier, with revenues of approximately GBP100 million, has transformed itself from a traditional manufacturer of point of sale products to become a full service marketing agency with a track record of enhancing sales and saving its clients money. Its blue chip customer base includes Argos, Boots, Coca-Cola, Disney, Johnson & Johnson, Procter and Gamble, Reckitt Benckiser, Revlon and Unilever.
Paul Canning (pictured), MD of HIG Europe, says: “We are delighted to be backing Bezier into the next stage of its development. Now that the business is operating with a strengthened balance sheet and has additional capital for expansion, we look forward to working with management to help accelerate its growth.”
Trevor O’Reilly, CEO, says: “We have made significant progress over the past 18 months implementing a new and innovative strategy for the business that puts our clients at the centre of everything we do. The market is changing and we require a business model that allows Bezier to lead the way in taking advantage of new opportunities. It has been challenging to do this with the legacy of debt within the business but that constraint to growth has now been removed.
“We will continue to invest in the best talent, provide the widest range of market-leading services and solutions to our clients, and pursue selective acquisitions. This transaction is great news for our clients and great news for our people.”
