£60m private equity-backed ‘immersive retail experience’ firm launches

A new £60m private equity-backed “immersive retail experience’ company has been launched, with a base in Melton Mowbray.

Hexcite brings together three of the UK’s leading providers of digital and physical display solutions – Gardners, Kesslers and SFD. Privcate equity firmElaghmore owns each business. The combined Group employs more than 300 people around the world.

The firm has bases in London, Melton Mowbray and Cardiff.

Chief executive, Matthew Frost, who joined in June 2019 will lead the Hexcite Group.

Elaghmore acquired Kesslers in 2017, and Gardners and SFD in 2019. The businesses were acquired by Elaghmore usings its £60m fund which closed at the end of 2016. The fund has made eight acquisitions so far.

Andy Ducker, Founding Partner, Elaghmore, said: “The launch of Hexcite is another exciting moment for Elaghmore. Following the successful acquisition of Kesslers, we were looking for high-quality businesses that could complement it, to build a world-leading provider of bespoke immersive experiences for brands and retailers.

“We believe there is a significant growth opportunity for Hexcite as the retail market continues to evolve. There is a growing demand from brands to create more immersive shopping experiences to increase customer loyalty. Hexcite offers customers a ‘one stop’ shop including design, manufacturing and delivery.

“The Group has the scale and capability to deliver market-leading work for brands and retailers around the world. We look forward to working closely with Matthew and his team as the business grows.”

Frost said: “The creation of Hexcite represents the most exciting and ambitious coming together of companies operating in the retail design and print industry in the past ten years.”