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03 June 2019

Maven invests in back and posture care firm

Portfolio News from The North West Fund for Biomedical.

Maven Capital Partners has led a £500,000 investment in a Cheshire-based back and posture care product specialist.

Handsome has developed a range of products designed to help consumers alleviate backpain, including support braces and belts, as well as standing desks, posture stands and cushions for support to improve posture.

The company is managed by a team of experienced industry individuals including chief executive Mark Critchley, chairman Ian Adamson, and chief financial officer and operations director Sean Togher.

A total of £250,000 was invested by NPIF - Maven Equity Finance, managed by Maven and part of the Northern Powerhouse Investment Fund, while £250,000 was provided by the GMC Fund, along with the company's lead China manufacturing partner.

The money will allow Handsome to execute its ambitious marketing strategy to expand overseas, invest in product development and create five new jobs.

Critchley said: "We are delighted to receive investment from the NPIF fund, which alongside continued support from our existing shareholders and our lead China manufacturing partner, gives us the confidence and the resource to take the business to the next stage in its development.

"We are excited about our plans and believe we are well positioned to become a leader in the market."

 

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