The Royal pram maker saved from receivership for £500,000 sells for £50M

Alan Halsall, the owner and chairman of the company – which has long been popular with Royals including the Duchess of Cambridge – sold the firm thirteen years after he plucked it from receivership to the Chinese conglomerate Fosun in a deal arranged by Cavendish Corporate Finance.

Fosun has already invested in Western companies including Thomas Cook and the Cirque Du Soleil entertainment group.

Silver Cross chief executive Nick Paxton said the new owners would provide business connections in China, where the manufacturer launched two years ago.

He said: ‘People think China is an easy win for business, but it’s not. Fosun will give us significant assistance, not only with local knowledge and connections in China, but with investment there and other international markets.’

Paxton said he and Halsall’s sons, Ben and Jonathan, have bought minority stakes in the newly acquired business.

The brand hopes to capitalise on the expected rise in the birth rate in China where restrictions on the number of children per family have been lifted and there is an appetite for iconic Western brands.