Balmoral Funds Completes The Acquisition of Enesco, LLC

Acquisition Adds Market Leading Brands to The Fund’s Consumer
Products Portfolio

LOS ANGELES–(BUSINESS WIRE)–Balmoral Funds, a Los Angeles based private equity fund focused on
partnering with talented and committed management teams in the
mid-market, announced today that it has acquired Enesco, LLC, a global
leader in gift, plush toy, and home and garden décor industries. Serving
more than 40,000 customers worldwide, Enesco designs, develops, and
distributes consumer products to a wide variety of specialty card and
gift retailers, home décor boutiques, as well as national retail chains
and direct- to-consumer retailers.

“We are excited to welcome Enesco to the Balmoral Fund family of
consumer product companies,” said Jonathan Victor, Senior Managing
Director at Balmoral. “The Company’s portfolio includes highly
recognized company-owned brands, such as Gund, Department 56, Our Name
is Mud, and Gregg Gift, as well as iconic licensed brands like Jim
Shore, Disney, Britto, and Peanuts.”

Balmoral Funds also announced today that Todd Mavis, an operating
advisor for Balmoral, will become the CEO, effective immediately. Todd
specializes in growth opportunities and most recently was CEO of Katun
Corporation and First Advantage Corporation. “There are many reasons to
be excited about joining the company; great brands, global reach, and an
experienced management team,” said Todd Mavis, newly appointed CEO. “I
am looking forward to working closely with our licensors, retailers, and
suppliers to meet the needs of our consumer customers.”

Tom Bowles, the outgoing CEO, will be retiring after successfully
leading the business for the last five years. Mr. Bowles will continue
working with the company in a consulting capacity to help insure a
smooth transition of leadership.

About Balmoral Funds

Balmoral is a Los Angeles, CA based private equity fund that was founded
in 2005. Balmoral currently has more than $200 million of assets under
management and focuses primarily on investment opportunities involving
complex operational or financial challenges. Balmoral typically invests
in companies that have revenues between $30 to $300 million and require
equity investments of $5 to $30 million.

About Enesco

Enesco, LLC is a global leader in the gift, plush toy, and home and
garden décor industries with a portfolio that includes some of the
world’s most recognizable brands including Jim Shore, Disney, Gund,
Department 56, Britto and Our Name Is Mud. Serving more than 40,000
customers worldwide, the company designs, develops, and distributes
consumer products to a wide variety of specialty card and gift
retailers, home décor boutiques, national retail chains, and
direct-to-consumer retailers. Enesco’s international headquarters is
located in Itasca, Illinois with subsidiaries in the United Kingdom,
France, Canada and China. Enesco serves markets operating in the
Americas, Europe, Canada, Australia and Asia. Enesco employs
approximately 750 associates worldwide. For more information, visit www.enesco.com.
For media inquiries, contact dbernar@enesco.com.

Contacts

Enesco, LLC
Doris Bernar, 630-875-5524
dbernar@enesco.com