Bamburgh leads Happy Puzzle sale

August 18, 2022

Independent corporate finance advisor Bamburgh Capital has advised the shareholders of The Happy Puzzle Company on its cross border sale to Belgium-based games company Smart Industries NV.

Hertfordshire-based The Happy Puzzle Company, a puzzles and games business, has become part of Smart Industries NV, a group specialising in multi-level logic games. The deal accelerates The Happy Puzzle Company’s international growth plans.

The Happy Puzzle Company has a customer base of more than 400,000 puzzlers and a presence in more than 14,000 UK schools.

Recently the business has experienced strong growth in the B2B market, distributing to UK high street retailers and expanding to more than 20 countries worldwide. It has enjoyed success on the back of games such as the Genius Square.

Smart Industries, known for its popular brands including IQ, SmartMax and GeoSmart, will bring The Happy Puzzle Company’s products into Smart’s growing portfolio. It will increase distribution through Smart’s extensive global network.

Gavin Ucko will remain as chief executive of The Happy Puzzle Company in the UK and work alongside Peter Rooke, Smart UK’s managing director.

Gabriel Schwalbe, from Bamburgh Capital, said: “We are delighted to have helped Gavin and the team find the right partner in Smart that will enable this international growth journey to continue. An excellent result all round.”

Gabriel, Thomas Brown and Michael Parkinson, co-founder and director at Bamburgh led the deal.