YFM takes 30% stake in Zutux

Carmen Reichman
13 April 2012

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YFM Equity Partners has invested ТЃ950,000 for a 30% stake in British furniture maker Zutux.

The investment came from the North West Fund for Development Capital, a sub-fund of the £185m North West Fund that is financed by the European Regional Development Fund (ERDF) and the European Investment Bank (EIB).

The fresh funds will enable Zutux to grow its product range and consolidate its business on the property development market.

It will also allow Zutux to build a bigger retail customer base on the back of its growing online presence.

Company
Zutux was founded in 2010 by Roger Butterworth and Kevin Charles after buying furniture supplier Johnson & Johnson out of administration.

The company manufactures and sells bespoke kitchen and bedroom furniture, as well as single unit items such as book shelves.

Its core customer base traditionally used to be high-end property developers. But when the market crashed, the company branched out into online and retail markets.

Zutux currently has 45 staff working in its Trafford Park site.

People
Joseph Bergin, head of the North West team at YFM Equity Partners, and investment manager Paul Gower worked on the deal. Halo International chairman Sir Eric Peacock has been appointed to the Zutux board as non-executive chairman