A leading watersports brand
Mobeus Equity Partners provided growth capital to Tushingham Sails Limited, which owns the world-leading inflatable Stand Up Paddleboarding brand Red Paddle Co.
Red Paddle is the world’s only dedicated inflatable SUP brand, sold in 55 countries and boasting an 18% market share of inflatable boards. The company generates an annual turnover of more than £7 million.
Mobeus provided £4 million as a combined debt and equity package to allow the business to maintain its leading position in an attractive and growing niche in the watersports sector.
The global SUP market is in a significant growth phase, with inflatable boards the fastest growing product category in the sport. The funding will allow the business to invest in working capital to fund further international growth.
Bob Henry of Mobeus has joined the board as part of this deal and Mobeus Operating Partner Bob Fairchild, who has significant experience with high growth businesses, has been appointed Chairman.
- Consumer Products
- Growth Capital
- July 2015
- £4.0 million
- Bob Henry