Investment

RNS Number : 8418G

EPE Special Opportunities Limited

29 July 2021

 

EPE Special Opportunities Limited

Investment

EPE Special Opportunities Limited ("ESO" or the "Company") is pleased to announce that on 28 July 2021, ESO Investments 1 Limited (an undertaking of ESO, in which it is the sole investor) ("ESO 1") acquired a majority stake in Hamsard 3634 Limited (the "Target" or, together with undertakings, the "Target Group") (the "Transaction").

The Target Group owns a collection of six heritage British homeware brands, including the iconic Kilner and Mason Cash marques, as well as Viners, Typhoon, Ravenhead and Price & Kensington. The Target Group develops and distributes a wide product range including jars, mixing bowls, cutlery, glassware and tableware.

The Target Group has achieved significant growth, benefitting from its strong relationships with its long-standing customer base, and more recently supported by structural trends including home cooking, sustainability and premiumisation. The Target Group achieved sales of £35.6 million for the year ended 31 December 2020, representing year on year growth of 21 per cent. (with non-material net profits due to management charges that will discontinue going forward).

ESO will assist the Target Group's future growth ambitions by supporting international growth and the development of a digitally led channel strategy.

As part of the buyout, ESO 1 invested £22.5 million (funded by cash reserves advanced from ESO). Following the Transaction, ESO has available cash of £20.0 million. The Transaction has no impact on the Company's net asset value.

The Transaction is consistent with ESO's focus on investing into small and medium sized enterprises ("SMEs"), partnering with management teams to create value through long-term business transformation.

About ESO

· ESO is an AIM-quoted, private equity investment company, whose objective is to provide long-term return on equity for its shareholders by investing in SMEs.

· ESO seeks to invest up to £30 million into companies with st rong fundamentals, including defensible competitive positioning and high levels of cash generation, and aims to partner with outstanding management teams to combine operational and financial expertise in each investment.

· ESO will consider most industry sectors, including consumer, retail, manufacturing, financial services and the broader services sectors, and can make direct investments, special situations investments, primary and secondary fund investments and private investments in public equities.

· ESO's investment horizon is flexible, creating the opportunity to maximise value via optimising exit timing, compounding returns and re-investing behind successful management teams.

The person responsible for releasing this information on behalf of the Company is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.

Enquiries:

EPIC Private Equity LLP	[phone] Alex Leslie
Langham Hall Fund Management (Jersey) Limited	[phone] Amanda Robinson
Cardew Group Limited	[phone] Richard Spiegelberg
Numis Securities Limited	[phone]
Nominated Advisor:	Stuart Skinner / Henry Slater
Corporate Broker:	Charles Farquhar

 

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