Irwin Mitchell’s Corporate Team Advises On Deal
The Corporate team at Irwin Mitchell in Manchester has advised Maven Capital Partners on its investment into back & posture care product specialist, Handsome Limited.
The Cheshire-based company has developed a range of innovative products to help alleviate back pain, including support braces and belts, as well as products to improve posture, such as standing desks, posture stands and cushions for support.
It is now one of the leading brands of back care products, predominantly sold online, supported by national coverage across the UK, including chemist chain Boots.
A total of £250,000 was invested by NPIF-Maven Equity Finance – managed by Maven and part of the Northern Powerhouse Investment Fund. A further £100,000 has been provided by the GMC Fund with an additional £150,000 from individual investors.
The funding will allow the company to execute its ambitious marketing strategy to expand overseas, invest in product development and will create five jobs in the region.
The consumer healthcare market is growing, partly due to an ageing population and greater cultural acceptance of self-help.
Victoria Zivkovic, a Corporate partner at Irwin Mitchell in Manchester, advised Maven on the deal. She commented:
Expert Opinion“The global market for back care products is huge and is growing at a very fast rate. Handsome has a great track record with a strong retail presence and I’m confident that with this latest investment, it will continue to build its brand and take advantage of the growth opportunities that are available.” Victoria Zivkovic - Partner
Andrew Round, investment director at Maven, added: "Handsome is a leading provider of back care products and we are delighted to support the company as it continues to grow both in the UK and overseas.
"The product range is well positioned to benefit from the growing demand for back pain relief and specialist posture products in the consumer healthcare market. We look forward to working with Mark and his team and they enter an exciting new phase in the company’s development."