The company has been acquired by business partners Jeremy Wilks and Jan Nielsen, who both have strong experience of the educational sector, as well as the toy retail market.
The pair plans to rebrand the business to more accurately reflect the diverse range of toy brands they distribute, as well as adding to the brands they represent. The company forecasts that business will grow by over 15% in 2013 against the previous year.
The company, which employs 10 people at its Bryn Lane premises, has moved its full business banking to HSBC as part of the transaction in a deal led by international commercial manager Nick Shannon. The finance to support the transaction has been backed by the Government’s Enterprise Finance Guarantee.
Jeremy Wilks, director, said: “The retail toy industry is a seasonal led business with the majority of trade conducted around Christmas. This is what makes Tolo Toys Learning an attractive proposition as the educational toy market offers a more consistent flow of business throughout the year. Over two thirds of our business is in this market and we want to develop that further.”
He added: “HSBC’s support has been integral to the success of the acquisition. Nick and his team took the time to understand our business and plans for where we want to take this company, and that made a real difference.”
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