Canburg, owner of two of the world’s most renowned luxury fitted furniture businesses – Smallbone of Devizes and Mark Wilkinson Furniture – has secured an £8m investment from the Business Growth Fund (BGF), which will take a minority stake in the business.
BGF’s investment will enable the group to accelerate its UK and international growth strategy, and will create up to 40 jobs at the group’s UK showrooms and the workshop in Devizes, Wiltshire, where all its products are made ny hand. Further jobs will be created overseas.
“This is a really exciting time for Canburg,” says CEO Leo Caplan. “I first invested in these businesses because of my passion for the luxury furniture they both make. The fact that the furniture is handmade in the UK and supplied globally is a fantastic testament to our cabinetmaking heritage.
“I am delighted that in BGF we have found the perfect long-term partner to help us reach our full potential and create the value that clearly exists in this business. I am confident that, over the next five years, we can grow the business from its current valuation of over £50m (post investment) to a global luxury group worth in excess of £500m.”
Paul OIdham, regional director at BGF, adds: “Smallbone and Mark Wilkinson Furniture represent the highest standards of British design and manufacturing, which are held in high esteem all over the world. Leo and his management team have very successfully capitalised on this, building an impressive international reputation and broad customer base. They have looked to BGF to put investment behind their ambition to create a truly global business – we share this vision, and over the next few years fully expect to see Canburg take a dominant role among a select group of successful British design and manufacturing businesses operating on the international stage.”
