Merino Private Equity has acquired the Tobar Group from Primary Capital. Funding to support the deal was provided by the Asset Based Lending team at Royal Bank of Scotland.

Norwich, UK-based The Tobar Group is a toy and gift retailer and wholesaler. Tobar’s retail operation comprises Hawkin’s Bazaar stores and website and the seasonal website Stocking Fillers. Hawkin’s Bazaar currently has 30 permanent stores located throughout the UK and opened an additional 11 temporary stores this past Christmas.

The asset based lending facility (ABL) provided by Royal Bank of Scotland has helped to fund the private equity backed acquisition. Clearwater International advised the shareholders of the Tobar Group on the sale.

David Mordecai chief executive at Tobar Group commented: “We are thrilled to be partnering with Merino Private Equity for the next stage of growth for Tobar. We have worked hard in recent years to grow the business, and we have high aspirations for the future of the business. This is an exciting time for all of us at Tobar, and we look forward to taking full advantage of the opportunity.”