An electronics business branching into the Internet of Things market.
Sandal is comprised of PowerConnections, an established cash generative division, and Energenie, which is at the centre of the rapidly expanding Internet of Things market.
Please be advised that Sandal’s round on SyndicateRoom has been extended until Sunday June 14th at midnight. This is to allow more time for the incoming government to provide a firm position on the EIS status of the company. We will provide any updates as soon as we have them.
Currently listed on the ISDX, a London investment exchange, Sandal plc commenced business in 1996 and designs, develops and manufactures consumer electronics products. Sandal plc has seen £3m of turnover in each of the last 3 years. Its business is divided into two distinct product groups:
PowerConnections, a long established wholesaler and reseller of a successful and patented range of converter plugs and power cables, and
Energenie, which sells a newly developed product range that includes energy saving products, portable charging devices and the new MiHome range of products aimed at the “Home Automation” and “Internet of Things” marketplace.
PowerConnections is a supplier to customers of single-phase electrical connection products, in the UK and abroad. The products are manufactured in three partner factories in the Far East and have distributors worldwide for its range of patented converter plugs. The Company’s product portfolio consists of International Power Leads, Rewireable Plugs, Converters and Connectors. These products are stocked in the Far East, Australia and UK. The business is profitable and cash generative and the company holds patents and trademark protections over many of these products.
Energenie offers Eco and electrical, travel and energy saving products for homes and offices and is now targetting the Home Automation sector. It has store listings for its current products with several large retailers including Homebase, Maplin, Amazon, Toolstation and ASDA. The new range of MiHome home automation products makes the remote operation of everyday household appliances and energy monitoring more accessible to consumers owing to better affordability and simplicity of control through smartphone and tablet connectivity. The Energenie business has grown rapidly since its creation 5 years ago to a current annual turnover run rate of £1m. The new MiHome range was awarded product awards at both the ECO Build and Grand Design exhibitions.
ISA or EIS
Another SyndicateRoom first! For the first time we are offering investors the ability to invest via their ISA. To find out more please see the Investment Terms tab.
Alternatively, shares on offer via SyndicateRoom are newly issued shares and thus are eligible for EIS relief, for those investors who do not wish to use their ISA. It is worth noting that shares acquired as a result of a transfer done through the ISDX Growth Market would not be eligible EIS relief and may cost more.
Please note that the minimum target raise of £127,965 is not a target in SyndicateRoom’s usual sense (the amount required to carry out the current growth plan); it is the amount of shares newly issued as part of this fundraise so far. Sandal Plc already has the cash it needs to operate, although additional funds will enable more rapid growth and product development.
This SyndicateRoom issue for Sandal plc is capped at £500,000.
Closing on or before
Sandal closes on midnight Sunday 14th June.
Unit 5, Harold Close, The Pinnacles
Harlow CM19 5TH
Alan Tadd – Chief Executive
Alan Tadd originally trained as a Chartered Accountant in Harlow, Essex. In 1980 he left the profession for industry and joined Greenbrook Electrical plc (“Greenbrook”) which was going through a reorganisation. In October 1985 he became Finance Director of Greenbrook. The Company grew rapidly creating the PowerBreaker, KingShield and Safetysure brands and successfully acquired and integrated two businesses, thus increasing the overall value of the business. Alan was at the centre of the change process which eventually entailed the closure of the UK manufacturing facility and moving it to the Far East. At this stage he assumed responsibility for the logistical, warehousing and fulfilment functions.
In September 1993 Alan became Managing Director of PowerBreaker plc and completed an MBO of the PowerConnections division in December 1996, which formed Sandal as his corporate vehicle. Since completing the MBO Alan has further developed the business and concentrated on developing dependable manufacturing capacity in China as well as expanding the product range and distribution network in the UK and internationally.
Oliver Tadd – Commercial Director
Oliver began at Sandal plc in May 2010, starting as Commercial Manager and becoming Commercial Director in October 2013. He has a degree in Economics from Birmingham University and a Masters in International Business and Marketing from The European Business School. He was also selected for a UKTi Scholarship at Kellogg’s University Chicago for a short intense course on marketing and export strategy in the U.S.A.
In his current role Oliver has managed a number of projects for Sandal ranging from an overhaul of the back-end computer system to the project management of the development of an extension to the range of Energenie’s products. He applied for and obtained the company’s Apple MFI license. More recently Oliver has led the design and development of the Home Automation range which Energenie launched at EcoBuild in London on 3rd March 2015.
Oliver’s responsibilities include managing the marketing and digital assets of Sandal plc. Recently he has managed the improvement of the PowerConnections website which has had to be integrated in to the back office system to create an EDI customer ordering platform which will reduce manual order inputting time.
Tom Rodger – Non-Executive Director
Tom has over 30 years’ experience working with a diverse portfolio of companies as a member of the board or in an advisory capacity. Assignments have includes high growth companies, turnarounds, acquisitions and company sales.
Tom is the Independent Director as required by ISDX Market Rules.
Adam Smith – Business Development Manager
Adam joined Sandal in April 2013 and is the Business Development Manager for the Energenie range of products. He brings years of experience to the Company and was previously a National Accounts Director for the Webb Group where he oversaw the launch of major new brands within both retail and online channels, as well as having responsibility for delivery of overarching account development strategy. Subsequently he joined GEM Distribution where he was Senior National Accounts Manager to Tesco, Sainsbury’s and John Lewis.
City & Merchant was established in 1991 to provide a balanced group of traditional merchant banking activities aimed at the SME and SQC market place. Bringing together corporate finance, IPO support and direct equity investing they have recruited senior executives from major institutions in order to achieve a unique vehicle for both companies and investors alike. Their senior management come from various fields within the Financial Services sector, their backgrounds covering the entire range from corporate law & finance through to accountancy, investment banking, trading, IPO & pre-IPO funding.
City & Merchant, by taking an equity stake in their client companies, align their interests with those of investors over the medium term. City & Merchant also source additional investment for the companies for whom they are Corporate Advisors, and £89,965 has been invested by investors sourced by City & Merchant, on the terms being offered to SyndicateRoom (and all other new) investors.
A number of other external parties have also been involved in carrying out due diligence in preparation for Sandal plc’s launch on ISDX in March 2015, including the solicitors Edwin Coe LLP and the reporting accountants Price Bailey.