SPS (EU) Ltd has completed the acquisition of The Encapsulating Company Ltd, trading as Ultimate Promotional Paper Products, for an undisclosed sum.
The deal will see the Blackpool-based promotional gifts manufacturer increase their branded portfolio through an exclusive partnership with Moleskine, the iconic manufacturer of notebooks and writing instruments.
Ultimate Promotional Paper Products are a London-based provider of a diverse range of bespoke, promotional paper products and is the sole distributor for Moleskine products in the UK and Ireland.
Philip Hebert, retiring founder of Ultimate Promotional Paper Products, commented on the deal, “As a business, we have always been focused on developing the paper market, and the Moleskine range has been central to this plan. I’m pleased that the brand will now be represented by an ambitious, forward-thinking group with great prospects for future growth and innovation.”
KBS Corporate identified a number of potential acquirers for the company with several bids received. However, the offer from SPS proved to be the best fit for the company going forward and granted Mr Herbert a swift exit from the business.
Phil Morgan, CEO of SPS commented, “As we continue to broaden our product range, we belive that this new partnership is testament to our strong position in the market and our reputation for providing high quality products with exceptional customer service.
Guy Haynes, Corporate Director at KBS Corporate, managed the deal through to completion and commented on the deal: “We identified SPS as a likely acquirer at an early stage of the process and it was clear from the outset that there were many shared values between both the buyer and the seller and also with Moleskine, whose contract with The Encapsulating Company was key to the transaction. This deal provides a clean exit for Philip Herbert, who we wish well in his retirement, as well as reinforcing the acquirer’s position as a leading name within the UK promotional products industry.”
Gateley plc acted as legal advisor to the vendor.