According to published reports in Europe, Manchester-based Brand Addition increased its U.K. sales to 44.2 million British pounds ($58.3 million) in 2016, a year-over-year gain of 2%. While revenue improved, profits made larger gains, jumping pre-tax to 4.3 million pounds ($5.7 million), up from 1.3 million pounds ($1.7 million) the prior year. Brand Addition’s global 2016 sales, meanwhile, were $103 million, Counselor has confirmed.

"The directors consider the outlook for 2017 to be positive," said finance director Claire Thomson, in a statement. "The company continued to capitalize on its position as a U.K. market leader for the provision of promotional merchandise and increases its global reach.”

Brand Addition, which has offices in Manchester, London, Dublin, Germany, China, Hong Kong, Turkey and the U.S., was purchased by Elysian Capital in May. The deal reportedly was worth between 50 million pounds ($66 million) and 60 million pounds ($79 million). Elysian bought Brand Addition from H.I.G. Capital, which this year in a separate transaction acquired Top 40 supplier BIC Graphic (asi/40480).

Earlier in 2017, Brand Addition CEO Chris Lee told Counselor that he saw “huge organic growth potential” in the promo products industry, particularly in supporting “large corporations in the design, sourcing and delivery of their promotional merchandise requirements both regionally and globally.” Going forward this year, Thomson added that further “growth is expected from the existing customer base keen to work with the company in new territories and development of 2016 new business wins in addition to further wins in 2017." Lee said this week that he expects Brand Addition will generate $120 million in global 2017 sales. 

Brand Addition’s U.S. segment, which is run by Chuck Fandos, reported 2016 sales of $22 million. Brand Addition acquired Fandos’ Gateway CDI in January 2016. Ever since, the latter has been doing business under the U.K. company’s name.