Maven Sold Its Promotional Merchandise Company

Maven Capital Partners has decided to let go of its promotional merchandise provider with a total employee of 300. The new owner is a leading company from the United States with backing from a private equity firm belonging in the middle market sector. Promotional merchandise in Australia is a profitable business and the decision by Maven was a surprise to many in the industry.

Maven said that their exit was a profitable one and the decision to let SPS (EU) Holdings go was for the benefit of the company. They have received return of investment tripled than what they paid for when they acquired the business in 2014. This is the second profitable exit for the company since they decided to sell Crawford Scientific on October of last year. They were able to achieve a profit 4.7 times their capital investment.

SPS has currently over 300 employees under their wings and is the supplier to over 2,000 independent distributors located all over Europe and the United Kingdom. The company has a facility in Blackpool spanning 90,000 feet and this is where products are manufactured, branded and stored. They also have two other sited located in Derbyshire and Oxfordshire. They have a variety of products such as keyrings, mugs, notepads, mousepads, coasters and clocks.

PF Concept International which is a subsidiary of Polyconcept Group, a multinational company in the United States, was responsible for acquiring SPS. Charlesbank Capital Partners is the private equity firm behind the transaction. PF Concept is currently marketing into over 100 countries.

SPS’s chief executive, Philip Morgan, said that Maven has been a positive force for their business because of the support they have received financially and useful business advice. He added that Ryan along with his team was able to improve SPS because of the transactions they have conducted including operational efficiencies, small acquisitions and international growth.

They believe that SPS will improve more as it is now a part of a bigger group. This is also the aim of companies producing promotional merchandise in Australia as they hope to reach a wider market.

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