Speechly Bircham advises on its first deal for the Business Growth Fund (BGF), the investment by the BGF in Cass Art
17 December 2013
This article was written prior to the formation of Charles Russell Speechlys, through the merger between Charles Russell and Speechly Bircham.
Speechly Bircham has advised the Business Growth Fund on its investment in Cass Art, one of the UK's leading independent art materials retailers.
Cass Art's first store was on Kensington High Street. Since then the company has expanded and now has six stores across London in Hampstead, Charing Cross, Kingston, Soho and its flagship store in Islington.
The business and brand has grown from strength to strength over the past five years and now employs over 90 staff. BGF backed the Cass Art team to roll out new stores in major cities across the UK over the next five years and to develop its newly launched e-commerce platform which presents a significant opportunity to grow on a national scale.
Rory Pope of the BGF commented "It was a pleasure working with the Speechlys team on this deal. They were key in getting the transaction over the line and we look forward to working with them again".
The Speechlys core team comprised Malcolm MacDougall, Richard Coleman and Chris Manning. Malcolm MacDougall commented: "We are delighted to have completed our first deal for the Business Growth Fund, and to have been involved in this investment in Cass Art. We look forward to working with the company and the Business Growth Fund going forward".