Findel Plc History

1962 – Fine Art Developments Limited floated on the Birmingham Stock Exchange. The group’s principal activities were the design and manufacture of greeting cards and gift wrap together with a mail order service for national charities and fund raising

1965 – Entered the general mail order market with its first catalogue, offering products sold via agents to the consumer market.

1982 – Far East buying office established in Hong Kong

1989 – Entered educational supplies market through acquisition of Hestair Hope

1992 – State of the art £40m automated warehousing facility opened in Accrington

1996 – Strategically, group focus moved to Direct mail order from declining Agency mail order and substantially increase the product offering, together with the provision of extended credit to the customer base

1997 – The group demerged into two distinct businesses: Fine Art Developments plc with sales of £235m retaining Mail Order and Education, and Creative Publishing plc with sales of £149m acquiring the card, giftwrap and stationery manufacturing operations

1998 – Creative publishing plc acquired by Hallmark Cards for consideration of £188m

2000- Fine Art Developments changed its name to Findel plc

2001 – The charity mail order division was sold to an MBO team for £20m

2001 – Novara plc, a rival educational supplies business, was acquired for a total consideration of £57.4m

2003 – Acquisition of three further educational supplies businesses for a total consideration of £7.1m

2004 – Acquisition of GLS Educational supplies for consideration of £26,9m

2005 – Findel announced new record for sales £458m

2006 – Findel announces strategic initiative to develop new Cash with Order division and acquires Letterbox, I Want One of Those, Kitbag and purchases remaining shares in Confetti Network. Kleeneze also added to Home Shopping Division

2007 – The Cotswold Company enhances the Cash with Order business. Philograph Publications Limited Group (Philip & Tacey Ltd in the UK and Didax Inc in the USA) was purchased for £1.3m cash consideration.  Synergy Managed Equipment Services Limited (SMES) was purchased for a debt free maximum cash consideration of £1.4m.  SMES provides a managed wheelchair products and support service to the healthcare market

2008 – Findel announces new record for sales: £634m

2009 – Findel raises £74.4m in a placing of shares. Closure of Letterbox and The Cotswold Company

2010 – Disposal of Webb Group, I Want One of Those and Confetti Network

2011 – Findel raises £75.5m in a rights issue and placing of shares and secures new 5-year committed  debt facilities.

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