The investment is intended to help the existing management team further develop the business both in the UK and internationally.
In conjunction with the investment, Mark Smith, founder and former CEO of Claire’s Accessories in Europe, will join NPW’s board as Chairman. Following the transaction, the founders, Michael Sweeney and Jonathan Pooley, will stay with the company to continue to focus on developing product design and range.
NPW designs, sources and sells giftware products to retailers in the UK, Europe and North America. It supplies a wide range of gifts, toiletries and “till pick” items, focusing on fast moving consumables such as lip-balms, tissues and body care sets, as well as stationery and gadgets.
The company is also the UK’s non-bookstore distributor of Moleskine notebooks.
NPW serves a broad range of high street retailers and independent gifting stores. In the UK, clients include John Lewis, New Look and WH Smith’s. In the US, clients are Old Navy, Restoration Hardware and Urban Outfitters.
Inflexion’s John Hartz and Andrew Leek will join the company’s board as Non Executive Directors.