Hi-Craft buy-out backed by AFM

Petlife Ventures, the pet accessories manufacturer trading as Hi-Craft, has been bought by its management in a deal worth more than £500,000.


Petlife Ventures, the pet accessories manufacturer trading as Hi-Craft, has been bought by its management in a deal worth more than £500,000.

Petlife Ventures, the pet accessories manufacturer trading as Hi-Craft, has been bought by its management in a deal worth more than £500,000.

Company manager Glen Brookfield secured £250,000 in funding from Allied Fund Managers through its MSIF Mezzanine Fund to buy the Liverpool company out of administration. Brookfield also invested £100,000 of his own money and an undisclosed sum was provided by Hi-Craft’s existing bank.

Brookfield intends to steer the pet leads, collars, toys and beds company towards a turnover of some £5 million within two years.

AFM recently announced that 2008 was a record year for investment. The fund managers said a total of £24.9 million was invested in the nine-month period to September 2008, an increase of £7.3 million compared with the whole of 2007.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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