Waterproof accessories company Sealskinz in £2.7m funding boost

VC investor Beringea backs company in a deal advised by Cavendish Corporate Finance.

VC investor Beringea has invested £2.7m in waterproof outdoors accessories specialist Sealskiz, the parties have announced.

The funding will be put towards supporting further growth in international markets and strengthen product development and marketing activities.

This investment sits alongside the existing investment from Bridges Ventures, the specialist sustainable and impact investor, which has supported Sealskinz since backing the initial management buyout of the business in 2007. The shareholders were advised by Cavendish Corporate Finance.

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Beringea partner Karen McCormick, who led the investment, said the firm was “delighted” to be working with Sealskinz.

“[The company] has exceptional brand recognition and customer loyalty. We look forward to working with management to expand the offering and geographic footprint to address a wider audience,” she said.

Sealskinz managing director reciprocated the sentiment and outlined the ways the funds would be distributed.

“The new funding will allow us to strengthen our offering, improve our customer services, and expand our sales capabilities overseas. We are delighted to be working with the Beringea team,” he said.

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Praseeda Nair

Praseeda Nair

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

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