Tushingham Sails Limited, a UK-based watersports business, received a £4.0m investment from Mobeus Equity Partners.
In conjunction with the transaction, Bob Henry of Mobeus will be joining the board.
The company intends to use the funds for further business development.
Founded nearly four decades ago by Roger Tushingham, a former member of the British Olympic squad, TSL started as a windsurfing sailmaker and then expanded into the design of more windsurfing components and then into overall distribution of windsurfing brands.
Today, the company owns the inflatable Stand Up Paddleboarding brand Red Paddle Co. Launched in 2009, it is sold in 55 countries through a network of distributors and sales agents.
The company boasts annual sales in excess of £7m and employs 16 people in the UK.
FinSMEs
28/07/2015