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Coolabi Group to expand portfolio with substantial funding package
London-based Coolabi Group Ltd, one of the UK’s leading creators and owners of children’s entertainment brands, is to grow its portfolio and make strategic acquisitions following a £11 million funding package from Santander Corporate & Commercial.
Coolabi Group specialises in the creation, development and brand management of children’s and family entertainment intellectual property rights. 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, Disney and Netflix. Brands owned and / or represented by the firm include the multi award-winning remake of Clangers, and Scream Street, shown on CBBC.
The group also 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. Four of these series – Warriors, Beast Quest, Animal Ark and Rainbow Magic – have sold over 10 million copies each.
The £11 million funding package from Santander Corporate & Commercial has helped Coolabi to refinance existing debt and will support the long-term growth strategy. This includes investment in digital apps, as well as new titles and the production of original content. The firm is also targeting further acquisitions. Recent brand extensions for the group include the Beast Quest gaming app, which has achieved over 10 million downloads.
Tim Ricketts, Chief Financial and Operating Officer, Coolabi Group, said:
The support from Santander Corporate & Commercial will enable Coolabi to continue building and 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.
Paul Baker, Relationship Director at Santander Corporate & Commercial said:
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 we’re delighted to be able to support their long-term expansion plans.
David Glick, Chairman of Coolabi Group and CEO of its major investor, Edge, commented:
Coolabi is a powerful reminder of the UK’s success in fostering creativity, having specialised and excelled in the creation, development and brand management of children’s and family intellectual property rights in so many geographies. This refinancing will help Coolabi make significant investments in original content and position the company for an even more successful future, helping to cement the UK’s reputation as a global leader in the creative industries.