BGF makes £10m follow-on investment in Lisburn blinds group
GROWTH capital investor BGF has injected another £10 million into Lisburn-based Mzuri Group, one of the leading companies in the window blind industry, to support its ambitious growth plans and future acquisitions.
Founded more than 40 years ago and previously trading as Decora, Mzuri Group is an established leader in the design, engineering, manufacturing and distribution of window coverings, serving customers in the UK, Europe and Australia, employing 1,500 people.
Having first backed the company in April 2020, the new funding round brings BGF’s total investment in the company to £20m.
Since the original investment, Mzuri has grown its revenues from £70m to £195m through a combination of the organic growth of its core business and the acquisition of ten other companies.
The funding from BGF (https://www.bgf.co.uk/) - which has now invested around £60m into Northern Irish businesses - will be used for further targeted acquisitions to enable Mzuri to continue building out its European sales and distribution platform.
Stuart Dickson, managing director of Mzuri Group, said: “We have significantly expanded our business since BGF first invested in the company and we view this latest round of funding as a tremendous endorsement of our plans for further growth in the years ahead.
“As well as its substantial capital support, access to BGF’s network and its expert advice has been invaluable as we have assessed acquisition opportunities and moved into new markets. We look forward to continuing to work closely with BGF’s investment team in the future.”
Graham Clarke, investor at BGF and board member of Mzuri, said: “It's been exciting for us to be part of the Mzuri journey over the past two years.
“The team there has done a brilliant job building what is now a business of significant scale and one of the leading players in the window coverings market across the UK and Europe.”