Anglo European Group Ltd, a UK-based supplier of specialist steel sections for window and door reinforcement, received an investment from Octopus Investments.
The amount of the deal was not disclosed.
The company will use the funds to expand and to reach more customers both in the UK and abroad.
Founded in 1990 and managed by Paul and Chris Sullivan, Anglo now works with approximately 400 customers. In April 2014, the company acquired Marybern Rolled Products Limited, a competitor located in North Wales, which provided additional manufacturing capacity and storage.
The investment saw Paul and Chris Sullivan release some of their equity to Octopus. CEO Paul Sullivan will become the majority shareholder in Anglo, while Chris Sullivan, currently Operations Director, will reduce his stake in the business. Peter Toland, previously CEO of Autologic, a leader in aftermarket automotive diagnosis also backed by Octopus, will become Chairman.
FinSMEs
05/11/2015