Sandbox London & Co. LLP

Price Bailey provide Financial Due Diligence services for acquisition of children’s craft subscription business

About Sandbox London & Co. LLP

Sandbox London & Co. LLP (“Sandbox”) are an investor in education-focused companies, with a current portfolio of 18 brands spanning across tech and education sectors. Sandbox’s most recent investment in the sector is the acquisition of Dodadine Ltd. (trading as ‘toucanBox’), a Hounslow based business that provide education arts and crafts boxes to children across Europe, with the primary market being the UK. The Company provides letterbox subscription of craft materials and activities to help with children’s’ development and mental wellbeing.

The Strategic Corporate Finance team at Price Bailey, led by Seb Humberston, were engaged to support Sandbox in providing Financial Due Diligence services on the proposed transaction. The team were engaged to evaluate the Company’s historic trading, outturn expectations, taxation and accounting systems, with a particular focus on understanding those trading variations caused by the COVID-19 pandemic. Another key issue was understanding the deferred income element of the Company’s balance sheet, a key component of a subscription-based business model. Price Bailey’s Tax team were also engaged to provide critical information support on the understanding of the VAT treatment of toucanBox’s overseas sales.

Seb Humberston, Strategic Corporate Finance Associate Director at Price Bailey:

We are delighted to have assisted Sandbox with their acquisition of ToucanBox. The acquisition of toucanBox is a great addition to Sandbox’s growing portfolio of brands, and we wish both parties great success with their aspiration of reaching even more families across the globe

Oana Chimina, of Sandbox, said about Price Bailey’s role in the transaction:

We are thrilled to have toucanBox become a part of our portfolio, they are a fantastic addition to an already exciting mix of businesses. We are very grateful to Seb and the team for their support in helping to make this transaction a success.

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