Transaction Details

October 26, 2015
Frankfurt

Sector

Consumer, Retail, E-commerce and Leisure, Digital Media and Media

Deal Type

M&A

Deal Value

N/D

Deal Team

Tobias Schultheiss, Fabian Gehlhaar

GCA Altium advises Exponent Private Equity on the proposed acquisition of Photobox Group

GCA Altium acted as adviser to Exponent Private Equity on the proposed acquisition of Photobox Group, one of Europe’s leading digital consumer services for personalized products and gifts. For GCA Altium’s Technology / Online / Media practice this represents the 21st deal to date in 2015, underscoring GCA Altium’s position as the leading adviser in this sector.

Photobox is one of the leaders in the European B2C market for personalized products and gifts and has experienced significant double-digit year-on-year growth since foundation with revenues of £275m (pro-forma in the last 12 months). 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 proposed acquisition would support Photobox Group’s ambitions in the market for personalized products and gifts through accelerated mobile, product and international expansion. Selling shareholders include Highland Capital Partners, Index Ventures, HarbourVest Partners, Insight Venture Partners, Quilvest Ventures and Greenspring Associates. The proposed acquisition is subject to certain conditions including consultation with employee representatives and antitrust clearance. Terms of the proposed transaction were not disclosed.

For GCA Altium this was the third successful transaction in 2015 in the mass customization sector, following the sale of Germany-based posterXXL to Photobox and the sale of France-based Exagroup to Cimpress (formerly known as Vistaprint).

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