Seller was Maven Capital Partners, which funded the management buyout of SPS from 4imprint, and which says it has achieved three times what was paid in February 2014. With the support of Maven, SPS made two bolt on acquisitions: High Profile in June 2015 and TEC in November the same year. Its growth has also been down to investment in new products, operational excellence and product development.
There are now two manufacturing sites in the UK, the main plant in Blackpool commoditised products and the new bespoke plant in Banbury. Combined there is a manufacturing area amounting to 8,000m2, equipped with two four-colour and one two-colour litho presses. Litho printing is one of 12 ways that are used to add brand messaging or identity, from screen printing and embroidery to tampon printing and inkjet.
The product range stretches from branded plastic coffee cups, workwear to various styles of notebook.
Philip Morgan, CEO of SPS, says: “Maven believed in our vision for the business and has been a hugely supportive financial partner and adviser. SPS is in the position where it will now benefit from being part of a larger group and it is thanks to the foundations that Maven helped the management team of SPS to put into place that we are were able to attract the interest of such a successful global business.”
“We are excited about the growth opportunities that the SPS product line and production capabilities bring to PF Concept, and we welcome the SPS team to the Polyconcept family,” says Ralf Oster, CEO of PF Concept.
Both sell through trade customers, producing catalogues and marketing materials to make this easier for agents, with online ordering also available.
PF Concept is Europe’s largest supplier of promotional goods, part of a US headquarters group that trades in 100 countries with more than 10,000 different products offered via four sub brands.