Synova scores 3x on TLG exit

Synova acquired TLG (previously The Lunan Group) in July 2008 in an off-market transaction.

Since then, the company's revenues have grown from £13m to £30m, while profits have almost tripled. Growth has been achieved by setting up an online platform and boosting international sales in Europe and Asia.

Company
London-based TLG owns handbag brands Fiorelli, Modalu and Nica. It sells its products in 400 retail and department stores.

The company was founded in 1988 and in 1994 it took control of the Fiorelli brand.

People
Synova Capital – Philip Shapiro (managing partner).
TLG Brands – Mike Hiscock (CEO).

Advisers
Vendor – KPMG (corporate finance); Pinsent Masons (legal).

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• Topics
• Exits
• UK / Ireland
• Consumer
• Synova Capital
• United Kingdom
• Trade sale