Equistone divests Worldmark

Following the deal, Worldmark has become a unit of CCL Design and will change its trading identity.

Following Equistone's initial investment in 2007, Worldmark suffered initial challenges due to the business being impacted by the performance of key customers. Since then, Worldmark's revenues have grown from £45m in 2007 to £105m in 2015.

Furthermore, the GP has supported the business in appointing new CEO Bill Graham in 2009, and claims to have repositioned the business to be more design-led. It also invested a further £7m to support the company's expansion into new product areas, as well as another £8m to support its efforts to target new customers and reduce debt.

Previous funding
Equistone acquired a majority stake in Worldmark in January 2007, in a deal supported by HSBC, Lloyds and RBS, according to unquote" data. Equistone made follow-on investments in June 2008 and August 2013.

Worldmark first received private equity backing in November 1999 when Bridgepoint and HgCapital backed the management buyout of Jarvis Porter Group's electronic products division in a deal worth £65.5m. The buyout duo then sold their stakes to Equistone.

Company
East Kilbride-based Worldmark supplies labels, overlays and products related to the consumer electronics industry. The business is active in 12 countries and employs 1,900 people.

Founded in 1979, Worldmark operates manufacturing facilities in Scotland, China, Hungary and Mexico, as well as design centres in the US, Asia and Scotland.

For 2015, Worldmark's sales are forecast at CAD 210m (£104m), with EBITDA expected to be CAD 35m (£17.3m).

People
Paul Harper of Equistone led the transaction for the GP.

Advisers
Vendor – Eversheds, James Trevis, Antony Walsh, Dan Shilvock, Tom Jackson (Legal); PwC, Matt Waddell, Cara Haffey (Corporate finance).

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