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Business Growth Fund invests £10m in Northampton and London design firm

The Business Growth Fund (BGF) has announced it has invested £10m in Northampton-based furniture designer Ocee Design.

Ocee, who have showrooms in Northampton and London, will use the funding to support their acquisition of Danish furniture designers Four Design, creating the Ocee International Group.

Focusing on contemporary commercial furniture, the designers will use the acquisition as springboard in its expansion across Europe and will be looking to unlock global export markets after more than tripling its turnover in the last six years.

Alistair Gough, Chief Executive of Ocee Design commented: “The strength of the relationship between Ocee Design and Four Design is a significant driver in our decision to purchase the company.

“By merging the businesses, the Group brings the expertise of the management teams together, creating a financially strong, meaningful domestic and international operator.”

Four Design already have sales throughout Europe as well as manufacturing partners in America, China and Australia, with Ocee using their new Denmark base and BGF funding to expand internationally.

Alistair added: “This is a great opportunity to benefit from the respective distribution, design, service and manufacturing strengths of the combined Group, and we look forward to an exciting and prosperous future.”

Set up in 2011, the BGF is backed by the UK’s five main banking groups, and was setup to invest in UK SMEs like Ocee using long-term equity investments.

BGF’s Mark Freer commented: “Ocee is a highly attractive and growing business with an ambitious management team. Under Alistair’s leadership, the company has built an impressive customer base as a result of its focus on contemporary design and quality.

“There is opportunity to grow the business in both the UK and internationally, and we look forward to supporting Alistair and the team as they push forward with their plans.”

Stephen Welton, Chief Executive of BGF said that the investment attests to the continued resilience of the UK’s entrepreneurs, reaffirming its commitment to funding small and medium businesses despite the EU referenudm.

He said: “Ocee is an ambitious business that is moving forward with its plans to expand in Europe and beyond. That is a positive sign and something we are delighted to be supporting.

“This is our 11th investment following the Referendum vote, demonstrating that there are resilient and determined entrepreneurs in the UK, and that is something we are wholeheartedly committed to supporting.”

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