Inflexion portfolio company activity: NPW secures new funds for global growth
The global ambitions of the management team at NPW, which creates award-winning stationery, toys, games and gadgets, have been given a major boost following the agreement of a multi-million pound funding package with Clydesdale Bank.
With all eyes on the retail economy, the deal is a vote of confidence in NPW as a market-leading impulse giftware products business, which is currently enjoying turnover growth of 18% year-on-year. From its London headquarters, NPW designs, sources and sells gifts to retailers in the UK, Europe and North America, with a particular specialism in impulse and point-of-sale products. The company is also the UK’s non-bookstore distributor of the highly popular Moleskine notebooks.
Expansion in the UK and in North America has been rapid, and NPW currently serves a broad range of quality high street retailers and independent gift stores, including John Lewis, Monsoon, WH Smith, Old Navy and Urban Outfitters.
NPW has developed a management team with global retail experience to work with the company’s founders – Michael Sweeney and Jonathan Pooley. Mark Smith, the Chairman, was the founder and former CEO of Claire’s Accessories in Europe; he works alongside Tim Wright, former COO of King of Shaves, who is CEO.
Andrew Leek, Investment Director commented: “We invested in NPW in February 2012 with a view to a refinancing at later date. The funding package agreed with Clydesdale Bank enables the management team to accelerate growth in the UK, US and potentially further afield.”