Second acquisition for candle and soap making manufacturer

A Yorkshire business, Supplies for Candles, is celebrating further growth having invested £2.5m in the acquisition of Glassprint Ltd, a stock of new products and the purchase of a 20,000 sq ft warehouse.

The new property is in Mexborough, near to the company’s headquarters. The business has a goal of creating an additional 30 jobs in the local area.

Established in 2016 by CEO Nicky Story, who started the business from his garage, Supplies for Candles is an online supplier of home fragrance ingredients to the craft micro-business industry.

This is the second big investment during the pandemic for the young entrepreneur, following the purchase of £3.5m business, The Soap Kitchen in Devon in 2020.

Story’s company is predicted to turnover £20m this year, as it serves over 100,000 customers and employs over 100 members of staff.

Glassprint was set up in 2002 printing on glass products such as; candle glasses, perfume bottles and beer bottles – with customers such as Ted Baker and the White Company. It currently has a turnover of £1m and 10 staff members.

Story said: “This is another exciting development for us as a company as we rapidly grow.

“I am looking forward to what this new chapter will bring. Glassprint Ltd is a great fit for us, as we can now offer our customers glass printing and a personalisation service on products.

“We will also use the extra storage space at both Mexborough sites as we continue to grow our new home décor range.

“This new purchase and expansion will also create around 30 warehouse jobs in Yorkshire, as well as senior level positions as we plan to solidify our team with the best talent in the area.”

The opportunity was presented to specialist alternative finance provider to mid-sized SMEs, ThinCats, by Sentio Partners, an independent corporate finance firm in Leeds. 

Andrew Barlow, director at Sentio Partners, said: “Against a backdrop of continued uncertainty, it’s been great to have supported Nick and his team in their latest strategic move.

“Supplies For Candles continues to expand and grow at pace, and in ThinCats they have a supportive funder who shares ambitions for the next phase of growth.”

Ben Kimball, director, regional business development, ThinCats, added: “The comprehensive development strategy behind Supplies for Candles is clearly demonstrated by this second targeted acquisition.

“Working with the management team as well as the team at Sentio once again has been very rewarding, and we are excited to see where the business goes next.”

ThinCats was advised by Clarion Solicitors. Legal advice to Supplies for Candles was provided by a team from Lupton Fawcett LLP.  

Corporate associate, Sarah Webster, said: “This is the second acquisition we have helped Nick to complete since the first lockdown, which shows a clarity of plan and appetite for growth.

“It’s great to be working with such a dynamic and well run business that still has lots of plans for further expansion.”