A multi-discipline business that supplies products such as textiles, electrical goods and branded goods to some of the world’s largest retailers has acquired a business backed by a £7m financial package from Bibby Financial Services (BFS) .
MPL Home, based in Hemel Hempstead, can trace its history back to 1946. Since 2008 it has grown exponentially, now operating on a multinational scale across Europe and North America.
The company supports some of the world’s biggest retailers – with its work including product design, market launch and all the details in between, from influencer marketing to intellectual property protection.
Following the provision of an initial £5 million bill discounting facility in June 2020, BFS has now provided an additional £2 million line of funding, to support MPL’s parent company, Senza in the acquisition of Bloomsberry Ltd, a Lytham St Annes based retailer specializing in British designed artificial floral products.
Paul Rosen, Managing Director of MPL Home, said: “Unlike other funders, BFS was able to recognize the significant growth opportunity presented to us and was able to provide additional funding to support the acquisition of Bloomsberry by our parent company, which undoubtedly enabled the transaction to take place.”
Ashley Weddle, Relationship Manager, and Jenifer Crook, Deputy Managing Director, of the BFS Commercial Team, led the structuring of the new financing to provide continued cash flow, in addition to a new infusion of working capital to support the transaction.
Ashley Weddle added: “MPL Home is a fantastic company, with a strong management team and an impressive customer base. Having previously structured a £5m bespoke bill discounting facility, we understood the business inside and out so were delighted to raise our funding. to £7 million to help the parent company acquire Bloomsberry.
“MPL Home, and now the wider group, is on a truly positive trajectory, and we are delighted to continue supporting them in their promising future.”