Top Private Equity News, Member Posts, Managed Futures Daily Indices and more!

2yrs ago Private Equity privateequitywire Views: 468

Maven invests in Candle Shack

Submitted 09/09/2021 - 9:46am

Maven Capital Partners (Maven) has led a GBP4.4 million investment in Candle Shack, an eCommerce business supplying candle making components as well as providing contract candle manufacture for high profile, luxury brands. 

The transaction includes GBP3 million of funding from Maven’s high net worth investment syndicate, Maven Investor Partners, as well as a GBP1.4 million debt facility from HSBC UK.

Candle Shack employs 105 staff and operates from its 100,000 sq ft West Carron facility in central Scotland encompassing a fulfilment centre, development lab and manufacturing. The Company provides everything for an artisan manufacturer to make high quality candles, including fragrances, waxes, wicks, glassware, and bespoke branded packaging. Making fine candles is a technical endeavour and many of Candle Shack’s customers rely on the business for support, training, accreditation and for the testing of their candles. In addition, the company serves clients who require contract candle manufacturing services where the company deploys state of the art technology and artisan craftsmanship to produce candles for some of the world’s leading luxury brands. 

The company is regarded as the market leader in Europe currently serving over 34,000 loyal customers and has a reputation for high quality products and excellent customer support. Candle Shack has enjoyed strong sales growth over recent years benefiting from its focus on the premium and artisan segments of the market. Consumers are looking for unique, locally produced premium products at affordable prices and this is increasingly being met by artisan candle makers many of whom are Candle Shack customers. The company is also working hard to offer candle ingredients that are sourced sustainably, and this includes its best-selling own-brand, environmentally friendly wax blend, EcoSystem RCX.

Maven’s support will enable management to further scale the business, investing in new marketing and sales channels, expanding its EU operations, financing further product development, and improving operational efficiencies to enable Candle Shack to grow its customer base, broaden its offering and continue to offer customers a best-in-class service.

David Milroy, Partner at Maven, says: “Candle Shack represents an exciting opportunity for our clients to invest in a well-established business led by a passionate and entrepreneurial team that has delivered impressive, profitable growth. A key attraction for Maven was the extent to which customers valued their relationship with many crediting their own business growth to the support provided to them by Candle Shack. Much has been achieved with limited marketing spend and the funding will help accelerate growth with investment in sales and marketing, stock, and logistics. We also look forward to supporting the business in developing its new fulfilment centre in the Netherlands which will allow for frictionless trade with the EU, removing additional cost for consumers and improving delivery times.”

Duncan MacLean, CEO at Candle Shack, says: “Maven’s investment in Candle Shack will fuel our next phase of growth, increasing our ability to support thousands of niche home fragrance brands across Europe. We are excited to be partnering with such an experienced investor and with Maven’s support, are aiming to cement our position as Europe’s leading home fragrance supplies business.”

Like this article? Sign up to our free newsletter Related Topics Deals & Transactions Investments Retail & Leisure

Today's Private Equity Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.