Balmoral Funds has acquired Enesco, a designer, developer, and distributer of consumer products to a variety of specialty card and gift retailers, home décor boutiques, national retail chains, and direct-to-consumer retailers.
Enesco’s products include gifts, plush toys, and home and garden décor that are sold under both company-owned and licensed brands. Enesco has approximately 700 employees and is headquartered outside of Chicago in Itasca, IL, with subsidiaries in the UK, France, Canada and China (www.enesco.com).
“We are excited to welcome Enesco to the Balmoral Fund family of consumer product companies,” said Jonathan Victor, Senior Managing Director at Balmoral. “The company’s portfolio includes highly recognized company-owned brands, such as Gund, Department 56, Our Name is Mud, and Gregg Gift, as well as iconic licensed brands like Jim Shore, Disney, Britto, and Peanuts.”
With closing of the buy, Todd Mavis, an operating advisor for Balmoral, will become the new CEO of Enesco. Mr. Mavis was most recently the CEO of Katun Corporation and First Advantage Corporation.
“There are many reasons to be excited about joining the company; great brands, global reach, and an experienced management team,” said Mr. Mavis. “I am looking forward to working closely with our licensors, retailers, and suppliers to meet the needs of our consumer customers.”
Tom Bowles, the outgoing CEO, will be retiring after successfully leading the business for the last five years. Mr. Bowles will continue working with the company in a consulting capacity to help insure a smooth transition.
Balmoral invests in corporate carve-outs, restructurings and other special situations. The firm targets investments of $5 million to $30 million of equity in companies that have $30 million to $300 million of revenues. Balmoral is headquartered in Los Angeles (www.balmoralfunds.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-12-15