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Business Growth Fund backs Better Bathrooms with £10m

8 Jul 2013

bathroom5_sqUK growth investor Business Growth Fund (BGF) has backed Better Bathrooms with £10m to help the retailer expand into new markets and explore alternative source supplies.

As a result of the deal, BGF will take a minority stake in the company. Better Bathrooms is the sixth business based in the north of England to be backed by BGF, bringing its total investments in the region to £30m.

BGF investment director David Colclough said, “Better Bathrooms was the first UK business to carve out a position as a true multi-channel retailer of bathroom products. A leader in its space, it offers one of the largest and best value ranges in the UK.

“The growth that this company has demonstrated over the last twelve years has been outstanding. But (founder Colin Stevens), who is an extremely passionate and driven entrepreneur, is keen to do it on a much bigger scale.

“This is where BGF comes in and it is a great example of how growth capital can really help a business with ambitions to expand. This investment also shows how we can flexibly structure the financial arrangements such that we best meet the needs of the shareholders.”

BGF’s other recent deals included a £6m investment in Petrotechnics, which develops software for companies operating in “hazardous industries”.

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