Balmoral Funds, a Los Angeles-based private equity fund focused on partnering with management teams in the mid-market, has announced that it has acquired Enesco, LLC, a provider of gift, plush toy, and home and garden décor industries. Serving more than 40,000 customers worldwide, Enesco designs, develops, and distributes consumer products to a wide variety of specialty card and gift retailers, home décor boutiques, as well as national retail chains and direct- to-consumer retailers.
“We are excited to welcome Enesco to the Balmoral Fund family of consumer product companies,” said Jonathan Victor, Senior Managing Director at Balmoral. “The Company’s portfolio includes highly recognized company-owned brands, such as Gund, Department 56, Our Name is Mud, and Gregg Gift, as well as iconic licensed brands like Jim Shore, Disney, Britto, and Peanuts.”
Balmoral Funds also announced today that Todd Mavis, an operating advisor for Balmoral, will become the CEO, effective immediately. Todd specializes in growth opportunities and most recently was CEO of Katun Corporation and First Advantage Corporation. “There are many reasons to be excited about joining the company; great brands, global reach, and an experienced management team,” said Todd Mavis, newly appointed CEO. “I am looking forward to working closely with our licensors, retailers, and suppliers to meet the needs of our consumer customers.”
Tom Bowles, the outgoing CEO, will be retiring after successfully leading the business for the last five years. Mr. Bowles will continue working with the company in a consulting capacity to help insure a smooth transition of leadership.
For more information, visit www.enesco.com.