Worldmark supplies complex labels and custom engineered products for laptops, smart phones and tablets, which enhance product branding, functionality and security.
Equistone acquired a majority equity stake in Worldmark alongside the management team in January 2007. Further capital was invested both in June 2008 and August 2013 to support the business, as it responded to a rapidly changing marketplace, by expanding its geographic footprint and manufacturing capabilities.
Founded in Scotland in 1979, Worldmark now employs 1,900 staff (up from 872 when we acquired the business) and has built a strong geographic footprint with manufacturing facilities in Scotland, China, Hungary and Mexico, as well as design centres in the USA, Asia and Scotland.
Following initial challenges, and with the business being impacted by the performance of key customers, Equistone has supported an overall strong growth from revenues of £45m in 2007 to £102m in 2015. Equistone has worked alongside management to develop the business through:
- Appointing Bill Graham as CEO in 2009, who increased growth through new customer wins and product diversification.
- Repositioning the business as a design led, material science proposition with the opening of strategic design centres in the US and Taiwan.
- Injecting £7m to fund expansion into new product areas and investing £8m in 2013 to support the “Plan for Growth” strategy to target new customers and reduce debt.
Equistone sold its Fund II investment in Worldmark to CCL Industries Inc.