14 July 2022
Leading audit, tax and consulting firm RSM UK’s business advisory team has helped Mzuri Group secure a total funding package of £10m from venture capital firm BGF to boosts its ambitious European growth plans.
Founded in 1979, Mzuri Group is a leading window coverings group which designs, manufactures and distributes window coverings to customers in the UK, Europe and Australia. The group, made up of 12 companies and employing over 1500 people, will use the funding from BGF to boost growth and build its European sales and distribution.
BGF, is an independent investment company, specialising in supporting earlier stage and established private businesses, across all regions and industry sectors in the UK and Ireland. This latest funding marks a follow-on investment for BGF, which first backed Mzuri in April 2020, and brings its total backing for the company to £20 million.
RSM’s Richard Gardiner and Michael Blair advised Mzuri Group on the funding package to support the company’s next phase of acquisitive growth.
Richard Gardiner, who leads RSM’s business advisory service and is managing partner at RSM in Belfast, said: ‘As one of the UK’s leading window blind businesses, the funding secured will enable Mzuri Group to take the next steps in its ambitious growth strategy and expand its European markets, client base, all while playing an integral role in supporting economic recovery in the UK post-pandemic.’
Stuart Dickson, managing director of Mzuri Group, said: ‘Mzuri has significantly expanded its 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.’