HIG Europe, the European arm of private equity firm HIG Capital, has acquired Brand Addition, a European leader in the supply of promotional merchandising, from UK listed firm 4imprint, in a management buyout valued at GBP24 million.
Based in Manchester, Brand Addition is a market leader in the provision of promotional products to large corporates across Europe for use in their corporate marketing and consumer promotion campaigns. The business provides a full outsource service including product design, ethical sourcing, stock holding/management, international logistics and web creation/hosting. Customers include numerous Global Fortune 500 companies. The company employs 260 people across five offices in the UK, Germany and China.
Paul Canning (pictured), Managing Director of HIG Europe, says: “Brand Addition is a highly cash generative business with an excellent market position and an experienced management team. We look forward to working with management to grow the company both organically and through bolt-on acquisitions. HIG Europe has had considerable success working with marketing services companies through its existing portfolio of companies.”
Chris Lee, chief executive of Brand Addition, said: “We are very pleased to have completed the MBO of Brand Addition with HIG Europe. With their backing, we will be in a strong position to take advantage of this growth market which is worth more than GBP3 billion across Europe”
Alastair Mills, Director of HIG Europe added: “Chris and the team have successfully repositioned Brand Addition into one fully integrated company with a model perfectly suited to servicing large multinational clients. We look forward to supporting the continued growth of the business.”
HIG Europe has completed 12 new European investments since the beginning of 2011.
