BGF invests £1.3m in Duncan & Todd

BGF originally invested £5.6m in Duncan & Todd in December 2013, with part of the funding used to refurbish and expand Caledonian Optical's manufacturing facility. The investor then provided follow-on funding of £3.5m to the business in February 2015 to fund its acquisition of 2020 Opticians and fuel further expansion.

The company stated that the latest investment of £1.3m made by BGF would help further boost its expansion plan, under which the lens manufacturer aims to double its revenues from external customers via the purchase of new manufacturing equipment and the refurbishment of its manufacturing unit in Aberdeen.

Patrick Graham from BGF and a member of the Duncan & Todd board added that the new equipment has also allowed Caledonian Optical to increase its capacity to produce a range of products and take on further work for third parties.

The latest investment is part of a continued investment programme with a further £250,000 planned during 2016 to complete the automation of the production line.

Company
Established in 1973 and headquartered in Aberdeen, Duncan & Todd is an independent optician with 30 branches throughout Scotland. In addition to its chain of high-street stores, the company's corporate eyecare division supplies safety equipment and spectacles. The business's turnover amounted to approximately £11.1m in 2015.

People
Business Growth Fund – Patrick Graham (investor).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• BGF (Business Growth Fund)