Kyoob Space Ltd (United Kingdom) - Jan 2008

unquote
01 January 2008

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In a first institutional funding round, Catapult Venture Managers has invested £500,000 into temporary accommodation manufacturer Kyoob Space Ltd. Catapult was attracted to the deal, which resulted from a direct approach, by the significant traction the business has been able to generate within a large market, with the investors believing there remains substantial room for future growth. The new capital will be used to continue the organic expansion of the company, particularly through the ongoing development of its hire fleet. Further funding rounds are expected in the future, with Catapult intending to continue its support.

Company

Kyoob designs, manufactures, hires and sells relocatable buildings for the temporary accommodation market, as well as more complicated modular constructions for use as both temporary and permanent buildings in locations such as hospitals and schools. Kyoob was established in 2003 and is based in Bilborough Links, Derbyshire. The business currently records turnover of approximately £3m and employs 10 staff.

People

Pete Le Noury led the investment for Catapult.

Advisers

Company - Rollit Farrell & Bladon, Nasim Sharif (Legal)Equity - Geldards, Debra Martin (Legal)

Sourced from: UK & Ireland unquote" 361 (Jan 2008)