Cosmetics firm made up following equity investment

Tuesday 1st July 2014

A cosmetics firm which trades throughout Europe has secured a second funding package from Finance Yorkshire.

The deal has seen Silsden-based Badgequo receive an equity linked investment of £600,000, which it will use to fund continued growth throughout the UK and abroad.

An initial funding package made in 2011 included an £800,000 equity linked investment and a £100,000 business loan.

The company produces both own-brand products for major high street retailers and its own branded ranges including Technic and Body Collection.

Badgequo was bought out by managing director Kai Arter and his wife Linda in 2006, and has since grown from seven employees, 70 customers and a turnover of just under £5m, to 35 staff, 275 customers and a turnover of £10.9m.

Arter said: “The business has grown impressively since the original investment, to the point where exports now account for around 50% of our total turnover, compared to around 15% in 2011.

“We’re enjoying phenomenal growth both in the UK and abroad, and this latest investment will be vital in building further on that.”

Finance Yorkshire portfolio manager Ian Brown said: “The fact that Badgequo has secured a second investment is testament to how successful the business has become, and the strength of its future prospects. Kai and Linda Arter have consistently demonstrated strong business and commercial acumen, and we are confident Badgequo will continue to go from strength to strength.”

Armstrong Watson’s corporate finance team and Gordons Solicitors advised Badgequo on the deal, while Walker Morris supported Finance Yorkshire.