Growth Fund backing to boost toy distributor
TOY, stationery and craft product designer and importer RMS International has agreed a growth capital investment from the Business Growth Fund.
The company, based in Swinton, Salford, with offices in the US, Hong Kong. China and the Netherlands, will used the undisclosed investment to fund infrastructure developments and further expand its global operations.
Its latest accounts, for 2014, show revenues growing from £33m to £43m.
Over the past 25 years, RMS has developed a range of products under its own brands, Grafix, Blocktech, GL and Games Hub, which has been a major driver of growth.
Most recently, it hasd been building a strong licensed product line, working with Disney, Universal and other major franchises.
The company, which has 130 staff globally, including a team of 27 designers, has appointed Stuart Rose, the former chairman of toy group Hamleys and former managing director of The Body Shop, as chairman, following an introduction by BGF.
Chief executive Tyrone Farber said: “With the support of a strong management team, we have built a sizeable and reputable business over the past 30 years and we know that we there are further, unexploited opportunities, particularly overseas.
“BGF’s flexible and long term approach to funding and partnership fits with our own needs, and our desire to remain in control of the business. I am extremely excited to have Stuart Rose on board. His knowledge and experience in the retail sector will undoubtedly prove valuable to RMS as we continue to grow.”
Matt Widdall, an Investor at BGF who also joins the board of RMS said: “RMS has built significant expertise, with a strong reputation for quality, creativity and distribution. We are excited to be supporting the company as it looks to grow its international presence.”
The investment was led for BGF by Matt Widdall and Rhys Davenport. RMS is banked by Barclays Corporate Banking.
RMS International was advised by law firm DWF and White & Company. BGF was advised by Pinsent Masons
and Grant Thornton.
BGF is an independent company with capital of up to £2.5 billion and is backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered.
