FRP Corporate Finance is pleased to have advised the multi award-winning supplier of promotional merchandise, Total Merchandise on its recent management buyout, following the retirement of two of its founders.
Founded in 2004, Total Merchandise has built an enviable reputation as a trusted promotional partner to UK businesses and organisations, generating consistent year-on-year growth. They are one of the UK’s leading suppliers of promotional products and branded merchandise with over 10,000 key product lines.
Our Corporate Finance team, led by Partner James Cooper and Tax Director Matt Field with support from Executive Cameron Robertson helped manage the transaction from start to finish including the design of a debt led structure to facilitate the capital restructuring, preparation of stress tested integrated financial forecasts including associated covenant review and presenting the business to its funder to secure a credit-approved funding offer. The team also led on all taxation structuring matters including obtaining the requisite HMRC tax clearances to facilitate the deal.
The buyout will provide a platform for the business to push on with its future growth plans under the stewardship of Managing Director Jay O’Connor.
James Cooper, Partner at FRP Corporate Finance, said: “The completion of this transaction marks a significant achievement in Total Merchandise’s dynamic journey, coinciding with its 20th anniversary. We look forward to seeing the continued growth and success of the business under the leadership of Jay and the management team.”
Jay O’Connor, Managing Director at Total Merchandise, said: “Navigating previously unchartered territories for us, James and the team at FRP helped us bring this deal home. The level of assistance and handholding where needed was hugely valuable and quite frankly I don’t think we could have made this happen without them. I wouldn’t think twice about going to FRP again should the need arise.’
The deal was supported by a new term debt facility provided by Lloyds Bank.
Management or Leveraged Buyout Financing
The completion of this transaction marks a significant achievement in Total Merchandise's dynamic journey, coinciding with its 20th anniversary. We look forward to seeing the continued growth and success of the business under the leadership of Jay and the management team.James Cooper Corporate Finance