Shearman & Sterling advised Electra Partners on the £400 million ($618 million) acquisition of Photobox Group, together with Exponent Private Equity. On completion, Electra Partners will invest £89 million.
As Europe’s leading digital consumer service for personalized products and gifts, Photobox Group is the parent of the PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL brands.
Electra Partners is an independent private equity fund manager with over 25 years' experience in the mid-market. During the last 25 years, it has invested more than £4.5 billion in over 200 deals. As of September 30, 2015, the firm had funds under management of over £1.8 billion, including capital available for investment of nearly £350 million.
The Shearman & Sterling team advising on the transaction was led by partners Mark Soundy (London-M&A) and Sarah Priestley (London-Tax), supported by associates Matthew Kichenside (London-M&A), Chris White (London-Finance), George Milton and Savas Manoussakis (both London-Antitrust).
Recently, Shearman & Sterling advised Electra Partners on its investments in Innovia Group (April 2014) and Hotter Shoes (January 2014).