Gift licensee secures £13 million from private equity investor LDC to accelerate international growth.
Paladone has been significantly strengthened with a £13 million investment from private equity company LDC.
The sum will be used to accelerate the gift licensing company’s international growth, reports The Argus.
Paladone generated revenues of over £30 million in its latest financial year, with 60% of its sales being international.
It already has offices in LA and Hong Kong, and is looking to further grow in the US market following success for its products with the likes of Kohl’s and Target.
It is also exploring growth opportunities in Australia, Asia and Europe, as well as investing in its online ecosystem to help increase revenues generated from its website.
The licensee will continue to be led by managing director Graeme Carr and commercial director Yann Le Bouedec, supported by finance director Steve Fleming. As part of the deal, private equity veteran James Barbour-Smith joins as non-executive chairman.
“We started out as a small novelty gift company almost 25 years ago, and the commitment and hard work of our team has helped us grow to become an international firm, holding longstanding relationships with some of the world’s best-known brands,” said Graeme.
“Over the years we have significantly invested in the quality and design of our products, which is why we’re now in a market leading position. For us, the time is right to bring an investment partner on board.
“In LDC we have found a team who understands our long-term ambitions and can provide us with the strategic expertise to help take the business to the next level.”
Recent product launches from Paladone include new Star Wars lines to tie in with the cinema release of Solo: A Star Wars Story, Black Panther, Marvel’s Avengers Infinity War, Ready Player One and Assassin’s Creed.
It is also exhibiting at this week’s Licensing Expo.
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