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26th February 2008
CAT.114
CATAPULT LEADS 680K INVESTMENT INTO KAPPLER LTD
Catapult Venture Managers has led a £680k investment into Mansfield based Kappler Ltd, manufacturers and suppliers of chemical, biological, radiation and nuclear protective clothing.
As part of the funding package, Catapult has introduced executive chairman Jon Towler and non-executive financial director Colin Fuller to the management team. These are key appointments as they will help the resident management team with the strategic issues in growing Kappler throughout Europe.
Catapult has invested £330k from the East Midlands Regional Venture Capital Fund (EMRVCF) which it manages, alongside £170k from the Coalfields Enterprise Fund (CEF) managed by Enterprise Ventures with additional banking facilities being provided by RBS.
Commenting on the transaction Pete Le Noury, investment director with Catapult, said: “Kappler represents an excellent investment opportunity. It operates within a large and growing market driven by Health & Safety legislation and the increased biological and chemical threats from such events as terrorism, bird flu, and MRSA.
“The funding will consolidate Kappler’s trading position and allow the company to grow its sales and improve gross margins by investing in working capital for direct sourcing from China.”
Paul Taberner, investment director with Enterprise Ventures, said: “We have been greatly impressed by the management team which is now in place at Kappler and are confident that they will be able to exploit fully the huge market opportunity which exists across Europe for an expanded range of PPE products.”
Kappler is Europe’s only supplier of a full range of protective clothing from dust protection through to chemical, biological and nuclear suits.
Mark Wealthall, managing director of Kappler came through the ranks to become their resident expert on sealing seams. Mark left to set up his own business called Seam Seal International Ltd, which was subsequently acquired by Kappler Inc. Mark returned to Kappler in 2001 as General Manager of its then proposed 35,000 sq. ft. European distribution centre in Mansfield.
Comments Mark Wealthall: “We have been delighted with the manner in which the market has embraced the return of the Kappler brand over the past 18 months. With our sales growing rapidly and direct container purchases from China now a must, we very much welcome both the input in working capital and also the expertise which comes from having new, highly experienced business partners.”
Advising Kappler Limited and the directors was Tenon Corporate Finance. Graeme Gladstone commented “We were delighted to have been able to secure this additional investment into Kappler. It is a well respected brand globally and this investment enables the UK operations to continue to build on its solid business base and continue with their expansion - we look forward to seeing their future growth”.
Mark Hughes from the Nottingham office of Browne Jacobson provided legal advice to the management team; with Duncan James and Tom Gray from Berryman’s, Nottingham, acting on behalf of the investors.
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For further information please contact Pete Le Noury at Catapult Venture Managers on 0116 238 8200 or 07711 788975; or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 505322
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