BGF invests £4.2m in AFG Media

The deal was BGF's fifth commitment in June, following the backings of Springfield Homecare, Seacroft Care Village, Primrose and Cennox. BGF usually takes a minimum 10% stake.

The funding will allow the company to develop existing products, bring new product lines to market and expand globally, particularly in the US, Europe, Mexico, Russia, Japan and China.

Company
Known for its Morphsuits product, AFG Media sells fancy dress and party fashion products. It was founded by Gregor Lawson and brothers Fraser and Ali Smeaton in Edinburgh in 2009.

The company recorded a 300% year-on-year growth for the past couple of years, with revenue figures rising from £1.2m in 2010 to £11m in 2012. AFG's main marketing strategy revolves around a social media campaign; the business also received a large order from US retail chain Party City in the run-up to Halloween 2011, which boosted revenues.

People
Former InterContinental Hotels and Unilever board member Ralph Kugler takes over as company chairman. BGF investment director Duncan Macrae will also take a seat on the board.

Advisers
Equity – Grant Thornton (Legal); DLA Piper (Legal).
Company – Ernst & Young (Corporate finance); Ignition Corporate Finance (Corporate finance); Morton Fraser (Legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Grant Thornton
• DLA Piper
• Ernst & Young