BP Marsh invests in business broker
Article Date: Mar 12 2008A start-up that specialises in the buying and selling of businesses worth less than £2 million has secured an investment from venture capitalist (VC) BP Marsh. Amberglobe, which trades as The Business Sales Centre, received £70,000 in return for an equity stake of 35 per cent in the company.
The investment includes a loan facility of £250,000 and a conditional agreement to provide additional loan funding of £380,000. BP Marsh, which typically invests in early-stage businesses in the financial services industry, funded the deal from its existing cash resources.
The funds will be used to accelerate Amberglobe’s growth plans, and a director of BP Marsh will join the company’s board.
Rupert Cattell, MD of Amberglobe, says that the company’s target customers are ‘the eclectic business assortments [sic] you typically find in industrial estates outside small towns across the UK’.
He adds: ‘There is a wealth of mom and pop businesses that are too small for venture capitalists but are perfect opportunities for people wanting to buy an income or to change their lifestyle.’
