SLF injects £1.55m into Spaceright for Millhouse bolt-on

The investment comes around a year after SLF invested £1.3m in Spaceright, a supplier of furniture and display products for the education sector, for the acquisition of Newcastle-based Educational Technology.

SLF stated the company will continue to investigate possible acquisition targets following completion of the transaction. The business is currently seeking to expand through consolidation of the early learning market.

The investment is the 23rd to be made from SLF, which has now made commitments of more than £50m. In April, the fund invested £1.5m in Traceall Global, a data management company.

The Scottish Investment Bank, the investment arm of Scottish Enterprise, appointed Maven to manage the £113m SLF in 2011.

Company
Founded in 1981 and headquartered in Woodhall Spa, Lincolnshire, Millhouse produces wooden toys, furniture and activity equipment for schools and nurseries.

People
Alan Robertson is an investment manager at Maven. Michelle Kinnaird is an investment director at the Scottish Investment Bank. Steve Ashton is a director at Spaceright.

Advisers
Equity – Mazars (Financial due diligence); Morisons (Legal).
Company – ICC Law (Legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Maven Capital Partners
• Scottish Enterprise