BGF invests £8m in Canburg

BGF's investment will be used to further Canburg's growth in the UK and internationally, as well as create up to 40 jobs in the UK and some additional jobs overseas.

The fresh capital will also be put towards developing Canburg's presence in overseas markets, where CEO Leo Caplan says the company generates a third of its revenue.

Caplan had been exploring how to best continue the group's growth for around a year, after having been approached by prospective buyers.

He expects the new investment to help grow the business from its current valuation of more than £50m to a global luxury group worth more than £500m over the next five years.

Company
Canburg was founded in 2009 by Caplan to buy UK fitted furniture makers Smallbone of Devizes and Mark Wilkinson Furniture.

Following his acquisition of the companies, Caplan committed more than £10m to Canburg. Employing 170 staff, the UK-based business builds luxury cabinets.

Canburg managed to generate £2.1m EBITDA from around £30m in sales in the year to 30 June 2013. The group expects to add more than £3m to this year's EBITDA.

People
James Austin, Alex Garfitt and Sarah Ledwidge worked on the deal for BGF. Leo Caplan is the founder and CEO of Canburg.

Advisers
Equity – Deloitte, Duncan Down (Financial due diligence); Osborne Clarke, Alisdair Livingstone, James Davies (Legal).
Vendor – Howard Kennedy, Michael Harris (Legal); Cavendish, Howard Leigh (Financial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• BGF (Business Growth Fund)
• Deloitte