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Business Growth Fund invests in gadget maker Wow! Stuff

12 Mar 2012

Business Growth Fund (BGF), the £2.5bn state-backed vehicle aimed at helping UK SMEs, has bought a minority stake in gadget maker Wow! Stuff for £4.8m.

The investment will enable the business to develop its product range and expand into the US, which currently stands as the world’s largest toy market, it said.

The company is also looking to hire a team of Chinese engineers and a US and UK-based team of inventors to bring sourcing and the supervision of its manufacturing processes in-house.

“In less than six years Wow! Stuff has achieved a reputation for innovative product development, successful commercialisation and high quality partnership with brand owners,” said Alistair Brew, an investment director at BGF.

“Over and above its recent success with blockbuster toys such as the Air Swimmer, it has a desirable new product pipeline that is exciting the toy market and enjoying significant early stage interest from global retailers.

“For all these reasons, it is a highly attractive business for us to support with growth capital and we are delighted to be working with Richard and his team.”

The deal is BGF’s third investment this year and it’s fifth since launch, bringing its total committed capital to £26m. Last month the firm sealed its first Midlands investment in GCI Telecom, an independent telecoms and data services provider.

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