Global private equity firm HIG Capital has sold Brand Addition to Elysian Capital.
Terms of the transaction have not been disclosed.
Headquartered in the UK, Brand Addition is a global service provider in the design, sourcing and distribution of promotional merchandise to large corporates predominantly in the automotive, engineering, health and beauty, FMCG, technology and financial services industries.
Following the carve-out from 4imprint in March 2011, HIG teamed with Chris Lee and the senior executives of Brand Addition to reposition the business, increasing the range of services and geographic reach, and shifting the emphasis to focus on large corporate clients under long term contracts.
The acquisition of St Louis based Gateway CDI in January 2016 followed new office openings in Turkey, Russia and China.
Carl Harring, managing director at HIG Capital, says: “We have enjoyed working with Chris Lee and his team in what has been a successful investment for HIG Assisting in the execution of the strategic plan via international expansion, the targeting of new customer channels and end markets plays to many of HIG’s strengths. Brand Addition today has the global footprint to capitalise on its market leading service proposition. We wish Chris and the team every success in the future.”
Chris Lee, CEO of Brand Addition, says: “We would like to thank the team at our outgoing investors HIG Capital for their advice, encouragement and support over the last five years. Under HIG’s ownership, we have successfully internationalised the business, concluding two acquisitions; most recently entering our largest market in the US early last year. We look forward to the continuation of our current growth with Elysian.”
