4imprint Group completes Brand Addition sale.
M2 EQUITYBITES-March 23, 2012-4imprint Group completes Brand Addition sale(C)2012 M2 COMMUNICATIONS http://www.m2.com
Promotional products company 4imprint Group plc (LSE:FOUR) announced today that it has completed the sale of Brand Addition for a total of GBP24.0m.
The business, including Brand Addition Limited (together with its subsidiaries) and Kreyer Promotion Service GmbH, was purchased by H.I.G Milan UK Bidco Limited and B270 Vermogensverwaktung GmbH, both newly incorporated companies controlled by H.I.G. Europe Capital Partners LP, an affiliate of private equity investment firm H.I.G. Capital LLC.
Of the total consideration, GBP22.75m is payable in cash immediately upon completion and the remaining GBP1.25m is payable in cash in a year's time.
Brand Addition supplies promotional merchandise to medium and large businesses in the UK and Europe. It generated total revenue of GBP65m in the 12 months ended 31 December 2011.
4imprint said that this sale is in line with its strategy to focus on continued organic growth in the 4imprint Direct Marketing business.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 23, 2012|
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