Dolls houses and miniatures specialist Dolls House Emporium and
nursery brand Gro Group have both signed deals that signal a
change in ownership. While flash-sales startup Casabu has secured
further funding for growth.
Derbyshire-based Dolls House Emporium was sold to MyHobbyStore
Retail due to the retirement of its founder-owner Jackie Lee in
February.
Trading from 65,000 square-foot premises with two shops, the
company employs more than 60 people and distributes worldwide via
catalogues and its website while supporting some 400 retailers in
the UK and abroad.
London-based MyHobbyStore Retail currently operates a number of
online stores in the hobby sector, including ModelFlying.co.uk
and ModelBoats.co.uk. It has a sister company that publishes a
range of hobby and craft consumer magazines.
The sale, for an undisclosed sum, includes The Dolls House
Emporium brand and employees. The business is currently
undergoing a transfer process to the new owners, which includes
TUPE.
Founded in 2000, Devon-based Gro Group is the company behind baby
sleep bag brand Grobag. Under the leadership of managing director
Christian Jones, the business has grown in the UK and
internationally with turnover now at approximately £12
million.
In March 2013, the company confirmed it had undergone a
management buyout led by Jones and finance director Dave Gough,
and advised by Isca Ventures. The MBO facilitates an exit for
original founders Rob and Ouvrielle Holmes.
Mobeus Equity Partners provided a combined debt and equity
funding package to both finance the transaction as well as
providing additional growth capital. HSBC provided working
capital funding for the business. The deal sees incoming chairman
Jules Hydleman and Mobeus partner Bob Henry join the board.
Private equity was involved in securing funds for 11-month-old
flash-sales website Casabu, which raised £900,000 led by
Ingenious Ventures supported by existing investor Horatio
Investments. Founder Rachel Oxburgh says she will use the funding
to grow the website’s customer database to a million members by
the end of the year. Other improvements will include investment
in technology to enhance product curation, personalisation and
social shopping on the Casabu site.
Share