Investee Company – BodyCare International Ltd (UK)
Investee Company Business – Beauty Services
Type of Financing – Expansion
Equity Providers – ISIS Capital
Equity Leader (Individual) – Kate Robinson (ISIS Capital)
Debt Providers – Barclays Bank
Debt Type – Term Loan
Debt Leader (Individual) – William Lowries (Barclays Bank)
Equity Amount – £3 million
Total Deal Value – £5.5 million
Other Advisors – Gary Davies (KPMG Corporate Finance)
Comments – Nottingham-based BodyCare International Ltd, a beauty care group, has raised £5.5 million expansion funding.
The equity was provided by ISIS Capital Plc, a specialist investor in unquoted European companies. ISIS was joined in this round by Barclays Bank, who provided £2.5 million debt finance. BodyCare International plans to use the capital to support the growth of its leading retail and distribution operations, The Tanning Shop and BodyCare Direct.
With headquarters in London and offices worldwide, ISIS Capital is a research-led sector-focused investor, concentrating on unquoted European companies in the following areas: business and financial services, consumer markets, healthcare, media and communications, and information technology.
Founded in 1998 by brothers Adam and Ciaran Mooney, BodyCare has enjoyed rapid growth due to the success of The Tanning Shop, and BodyCare Direct, which have both become leaders in their fields. The Tanning Shop is the UK’s number one indoor tanning operator and BodyCare Direct is the UK’s leading wholesaler and distributor of tanning equipment and related beauty products.
Kate Robinson, investment director of ISIS Capital said: “We are delighted to be working with BodyCare International. This is a young and entrepreneurial team with a proven retail model, a great brand and a tremendous market opportunity.”