Chartered Accountants and Business Advisors Beever and Struthers advise on another cross-border transaction with the sale of Heathside Trading to European-owned SAGA Invest

Blackburn-based Heathside Trading, a distributor and manufacturer of toys and collectibles with operations in the UK and the Netherlands, has been acquired for an undisclosed sum by SAGA Invest in a deal advised by accountants and business advisors Beever and Struthers.

Heathside has experienced rapid growth over the last few years and is well known for its pop culture and licence-based brands, Khadou and Master Replicas. These brands work with properties such as South Park, Minecraft, Deddy Bears, Five Nights at Freddy’s, Star Trek, Sonic, Molang, Doctor Who, Only Fools and Horses, Foundation, Stargate, Dune, Teenage Mutant Ninja Turtles, Care Bears, Sesame Street, Harry Potter, Battlestar Galactica, and many others.

Following the sale, Robert Myers, co-founder and a long-standing figure in the toy business, will retire.

Robert said “After so many years, I am delighted to hand over the reins to the next generation. Under the management of SAGA Invest and the rest of the leadership team, I know the business is being left in the most capable of hands, and I look forward to following the company’s success moving forward.”

Co-founder John Nelson will serve as interim CEO until the beginning of 2025. Gregory Benassar will become co-CEO, with shareholder Darren Epstein (EVP Global Business Development), Max Nelson (Head of Sales) and Simon McIntosh (Finance Director) remaining to ensure continuing growth within the business.

Darren Epstein added: “We were approached by several companies at the back end of 2023 and the shareholders decided to move to exclusive discussions with Saga during the Nuremberg Toy Fair. Given the team’s background and their focus on growth, it made sense to move forward with SAGA Invest. We wanted partners who would bring focus to what we have built at Heathside over the years. We believe that over the next 12 months, our retail partners will see even more reason to work with us on our portfolio of product ranges.”

Saga Invest is comprised of four members: Gregory Benassar and Alexis Desplats, who played instrumental roles in the historic growth of Asmodee; Alexander Dubynski, founder and former owner of Blackfire Distribution before its sale to Asmodee; and Jürgen Helmhold, who brings extensive business expertise from his time as a senior partner in SHWP, an interdisciplinary firm of chartered accountants, lawyers and tax advisors.

Gregory Benassar, principle at SAGA Invest added: “We are building a Pan-European distribution and manufacturing solution at the intersection of toys, collectibles, and other licensed goods.  As such, we are delighted to complete our purchase of Heathside, a very successful company within all these segments. We are entrepreneurs at heart, and we see that as core to the Heathside business. We wish to continue and enhance that philosophy.”

‘’The experience of these veterans of pop culture formats proves to be a very exciting prospect for the future growth of Heathside, Khadou and Master Replicas,’’ added Darren Epstein.

The team at Beever and Struthers was led by corporate finance director Dean Curtis, with support from corporate finance manager Patrick Wilson, and tax partner Ann Bibby.  

Dean Curtis, corporate finance director at Beever and Struthers, added: “We’re incredibly pleased to have delivered this transaction, especially in a tough market. We supported the business in sourcing the right strategic partner for Heathside to continue its international growth journey. This is a strategic move and will open up significant opportunities for Heathside”. It has been a pleasure to work with the shareholders to help them achieve their goals and we look forward to seeing the business grow from strength to strength under new ownership”.

Legal advice was provided by Farleys, led by corporate partner Debbie King and associate solicitor Amy Jones.

Addleshaw Goddard provided legal advice to SAGA Invest, the team being led by managing associate Ben Davies and supported by associate Eleanor Chatterton. Crowe UK provided financial and tax due diligence, the team being led by director George Lawford.

Most business owners will consider selling their business at some time. A sale can help owners enjoy the benefits of their hard work while looking after employees and preserving their legacy.

The process can be daunting and complicated but Beever and Stuthers is there to help. Its team provides a personal service with straightforward and honest advice to help business owners achieve their goals.