Electra and Exponent announce the acquisition of Photobox Group

Electra Private Equity PLC, together with Exponent Private Equity, is pleased to announce the proposed acquisition of Photobox Group, Europe's leading digital consumer service for personalised products and gifts.

Present in 22 European markets, Photobox Group is the parent of the PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL brands. The group has a strong customer base fulfilling 19 million orders across Europe in the last twelve months.

The acquisition, which is subject to certain conditions including consultation with employee representatives and anti-trust clearance, would support Photobox Group's ambitions in the market for personalised products and gifts through accelerated mobile, product and international expansion. On completion, Electra will invest £89 million.

Bill Priestley, Partner at Electra Partners, the Manager of Electra, said:
"We are delighted to mark Electra's first investment of its new financial year by investing alongside Exponent in this exciting business. PhotoBox is the market leader in Europe and is uniquely placed due to its scale to capture further growth as the macro trend for personalised gifts continues. We look forward to working with Exponent and Photobox Group's management in driving the business forward to its next stage."

Since 30 September 2014, Electra has been busy in terms of both new investment (one new direct investment; ten bolt-on acquisitions within the portfolio) and realisations (significant disposals include Nuaire and Zensar Technologies which generated a 3.8x and 19x return respectively).

Electra Partners refers to Electra Partners LLP acting on behalf of its client Electra Private Equity PLC.