Coolabi Group targets new acquisitions following £11m Santander funding
Coolabi Group Ltd, a UK creator and owner of children-focused entertainment brands such as Bagpuss and Scream Street, is to grow its portfolio and make strategic acquisitions following an £11m funding package from Santander Corporate & Commercial.
The firm owns the rights to over 20 TV series and its shows have aired in more than 140 territories on channels including ABC, The Cartoon Network, Nickelodeon and Disney.
The group creates original series fiction for publishers and has created around 100 published series, consisting of around 1,500 books, sold in more than 40 languages.
Tim Ricketts, chief financial and operating officer, Coolabi Group, said: “The support from Santander will enable Coolabi to continue investing in high-quality TV productions, books and digital content for family entertainment and help us catalyse our growth strategy.
“The Santander team really understood both our business & strategy whilst delivering in an efficient manner. We look forward to building upon our partnership.”
The £11m funding package from Santander Corporate & Commercial has helped Coolabi to refinance existing debt and will support the long-term growth strategy, which includes investment in digital apps as well as new titles and the production of original content.
In addition, the firm is targeting further acquisitions. Recent brand extensions for the group include the Beast Quest gaming app, which has achieved over 10m downloads.
Paul Baker, relationship director at Santander Corporate & Commercial, added: “Coolabi has grown into an influential player in the UK and global children’s entertainment sector due to a commitment to strong, high-quality content and a focus on multi-media engagement.
“Its success is testament to its highly regarded management team, and Santander is delighted to be able to support their long-term expansion plans.”