Walls takes high road for MBI deal
THE former boss of North West toy company HTI International has snapped up another business in the sector.
Mark Walls from Preston, who spent eight years as first sales director and then managing director of Fleetwood-based HTI before leaving in 2014, has completed a management buy-in at H Grossman, a business based near Glasgow.
H Grossman has licenses to make toys such for kids’ favourites such as Dispicable Me, Hello Kitty and Moshi Monsters. It supplies the likes of Asda, Amazon, John Lewis as well as independent toy stores.
Preston-based Walls has invested alongside Daniel McLoughlin, a former colleague at HTI, who specialises in Far East product sourcing out of Hong Kong.
Mark Walls said: “We are delighted and extremely proud to have the opportunity to acquire HGL (H Grossman Ltd). “The business has seen 70 years of success and has developed a reputation within the industry for delivering craze lines and award-winning products. There is great scope to expand the business with its core brands and licensed portfolio to its growing UK and international customer base.
“The UK and Hong Kong teams have played a key part in the success of the company and it is imperative that the team remains at the forefront of the business for the future.”
Martin Grossman, the former MD and majority shareholder of H Grossman is staying on as a director and shareholder in the business.
The MBI team was advised by North West accountants CLB Coopers law firm Pannone Corporate.
The CLB Coopers team featured partners Steven Lindsay (corporate finance) and Colin Abrahams (tax). Tom Hall led the Pannone Corporate team assisted by Arshnoor Amershi.
