Enterprise Ventures and PHD Equity Partners invest in Barber

EV invested £1.7m while PHD Equity Partner provided £1m. The remaining £1.7m was reinvested by Barber owners Tony and Stephanie Crane.

Shares in the business were split pro rata, with the investors taking approximately 60% of the business, 22% of which were acquired by PHD.

The company plans to tap into Northern European markets, both organically and through acquisitions. It has already made a small acquisition in Spain and has similar plans for France, Germany and Holland. The business is also aiming to increase its online sales, according to PHD.

The bulk of the growth strategy lies in the tattoo business, which currently accounts for around three quarters of Barber's income, PHD's Andy Dodd added.

Company
Barber was founded by Tony Crane in Sheffield in 1991. Originally a catalogue-led supplier of needles and consumables to the veterinary industry, it soon found a profitable niche supplying needles to tattooists.

Currently 70-75% of the company's turnover derive from the tattoo industry. The GPs expect turnover and EBITDA figures to reach £4.5m and £1m respectively by September. The business currently employs 25 staff.

People
Andy Dodd oversaw the deal for PHD Equity Partners while Wayne Thomas led the deal for EV alongside Paul Betts.

 

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