Private equity fund Enact swoops for manufacturer
ENACT, the SME fund managed by Leeds-based private equity house Endless, has acquired Kesslers International, a designer and manufacturer of retail sales displays.
Founded in 1893, Kesslers International is based in Stratford, London and operates from a 130,000 sq ft state-of-the-art design, engineering and manufacturing facility, employing more than 200 staff.
Enact has acquired 100% of the share capital of Kesslers International and will provide capital to support the continued growth and development of the business both in the UK and throughout Europe.
Chris Cormack, who manages the Enact fund on behalf of Endless, joins the Kesslers International board and will support the existing management team.
Enact investment director, Chris Cormack, said: “Kesslers International has an excellent reputation within the in-store advertising industry, backed by decades of unrivalled experience. We are delighted to bring Kesslers International into the Enact investment portfolio and look forward to building on the success of the company.”
John Wood, who has extensive experience in the POP industry, has been appointed chairman. Charles Kessler will remain within the business, as sales and marketing Director, supporting the transition of the originally family operated company.
Mr Wood said: “Having worked within the in-store advertising industry for many years, I have always looked at Kesslers International and admired their brand and long-standing reputation within the industry. I am excited to be joining Kesslers International and look forward to working alongside Charles Kessler and the full management team.”
Legal advice was provided by James Fawcett from Gordons and tax advice by Russ Cahill of the Tax Advisory Partnership.
Commenting on the success of the Enact fund since its launch in 2014, Mr Cormack added: “Kesslers will be our fourth investment in two years, the portfolio is performing well and we are pleased to report a strong pipeline of opportunities since the start of 2016.”
