
Mobeus invests £2.9m in Buster + Punch
Mobeus Equity has provided UK interior product design company Buster + Punch with ТЃ2.9m of growth capital financing.
The capital will enable the company to carry out its international expansion strategy and undertake new product development.
Mobeus investment manager Greg Blin will take a seat on the Buster + Punch board as part of the deal.
The transaction is Mobeus's sixth growth capital investment in the space of 12 months. Most recently, the GP invested £2.5m in UK casual dining chain Tapas Revolution in January 2017.
Mobeus is currently investing from its first institutional fund, which focuses on buyout investments and is understood to have held a first close on £65m in July 2016. The Buster + Punch transaction was made with capital drawn from the GP's VCT funds, unquote" understands.
Company
Founded in 2013 as a producer of custom-made motorcycles, London-headquartered Buster + Punch is an interior product design company focusing on lighting, furniture, electrical fixings and glasswear. It also continues to produce and sell motorcycles.
The business has a headcount of 25, including its showroom in London and retail store in Sweden. Its products are also sold by retailers including John Lewis, Harvey Nichols and Harrods.
According to a statement issued by Mobeus, the company has achieved revenue growth of more than 75% in each of its past two financial years.
People
Mobeus – Greg Blin (investment manager).
Buster + Punch – Massimo Buster Minale (founder, creative director).
Advisers
Equity – Capital Flex, Irfan Harris (financial due diligence); Marriott Harrison (legal); Stratton HR (management due diligence).
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