Investors acquire BGF-backed Canburg

The development comes a week after the group – which comprises Smallbone of Devizes, Mark Wilkinson Furniture and Brookmans – filed a notice of intention to appoint Grant Thornton as administrators.

According to a statement issued by Sapphire 700, the transaction will safeguard 260 jobs at the company, though the announcement also stated that the "future success" of the company remained a "going concern".

Canburg pursued an international expansion strategy following BGF's initial backing four years ago and increased its headcount from 170. It had planned to grow its valuation from around £50m to become a global luxury group worth more than £500m over the course of five years.

At the time of publication, BGF was yet to reply to a request for comment; details of its investment in Canburg have recently been removed from its website.

Previous funding
BGF invested £8m to acquire a 20% stake in Canburg in 2014.

Company
Canburg was founded in 2009 by Caplan to acquire UK fitted furniture makers Smallbone of Devizes and Mark Wilkinson Furniture. Smallbone of Devizes was founded in 1978 and specialises in designing, manufacturing and installing kitchens.

People
Canburg – Ian Gray (executive chairperson).

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• Topics
• Exits
• UK / Ireland
• Industrials
• United Kingdom
• BGF (Business Growth Fund)
• Grant Thornton