A Blackpool promotions goods maker has been bought by a US multinational.
SPS EU Holdings makes a wide range of goods, gifts and items supplying more than 2,000 independent distributors in the UK and Europe.
It was supported by private equity house Maven Capital Partners which helped with the management buy out of SPS from 4imprint Group in February 2014 and which has since supported expansion including the acquisition of two firms in Oxfordshire and Derbyshire in 2015.
Now SPS has been bought for an undisclosed sum by PF Concept International BV, of the US, the largest supplier in that industry, which was looking to expand its UK and European promotional goods business.
SPS, which employs around 300 at its three sites, including the 90,000 sq ft site in Blackpool.
Philip Morgan, CEO of SPS said: “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.”
“Maven believed in our vision for the business and has been a hugely supportive financial partner and adviser.”
He said that over the past five years, SPS had positioned itself as a market leader in British-made promotional products, particularly in the drinkware sector, with several key lines in its range. The company attributed its success to a focus on innovation, quality, lead times and value for money.
Ralf Oster, chief executive officer of PF Concept said: “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,”
Tracey Bowen, sales director for PF Concept said: “This significant investment in the UK promotional merchandise industry clearly demonstrates PF Concept’s long term and continued commitment to the UK market.
“I can see huge benefits to our customers in the years to come. A very exciting time!”