Phoenix looks to sell toy developer Vivid for £80m
The owner of the toy developer Vivid Imaginations has hired advisers at KPMG to sell the company for up to £80m.
Vivid, which licenses Moshi Monsters toys, has been backed by Phoenix Equity Partners since a £62m management buyout in 2002 but the private equity firm now wants to exit its investment.
Vivid, based in Guildford, Surrey, makes, designs and distributes toys. It also holds the distribution rights to popular TV shows and movies, with notable successes in the past including Shrek and Toy Story 3.
In one of its biggest deals, Vivid signed a master toy licensing deal last year with Mind Candy, the publisher of Moshi Monsters, to sell miniature collectable toys based on the online children's game. Moshi Monsters has more than 50 million online users worldwide.
Vivid, which has global retail sales of $305m (£193m), has also moved heavily into music. It signed a deal in January with Bravado Merchandising to become the master toy partner for the boy band The Wanted.
It is also the licensee for collectable dolls for the X-Factor finalists One Direction.
Nick Austin and Alan Bennie, the former managing director and finance chief, respectively, at Matchbox UK, founded Vivid in 1992.
The management team was retained in the 2002 MBO, backed by Phoenix and Royal Bank of Scotland. All parties declined to comment yesterday.
- 1 Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
- 2 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 3 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Edgar Froese dead: Tangerine Dream founder dies aged 70
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Syrian refugee child beaten by Istanbul Burger King manager for eating customer’s leftover food
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...