iSmash Group Limited / Confidential
Cavendish Corporate Finance LLP (“Cavendish”) is pleased to announce it has closed an expansion capital raising for iSmash, a high tech, high fashion brand that specialises in the express repair and personalisation of smartphones, tablets, Macs and PCs.
Founded by Julian Shovlin in Dublin in 2012, iSmash is the first branded chain specialising in the repair of smartphones, tablets, Macs and PCs. In August 2013, iSmash opened its first London store on the Kings Road. Following the success and reception it received from its customers, it subsequently rolled out stores in Canary Wharf, High Street Kensington and Victoria and has experienced rapid growth since inception; testament to the strength of the team and the huge demand for iSmash’s offering.
The deal involves an equity investment from a number of private investors. The investment will allow iSmash to accelerate its expansion plan, which initially involves the roll out of several stores across London. The price and terms have not been disclosed.
Cavendish is delighted to have assisted an exciting business secure the funding for a major programme of growth and expansion. The transaction is the latest in the retail sector for Cavendish, following transactions such as the sales of: Naked Wines to Majestic, Coopers of Stortford to Damartex, Robert Dyas to Theo Paphitis, and Donald Russell to Vestey.
Cavendish specialises exclusively in sell side M&A and where possible seeks to work with its clients over a number of years ahead of an eventual sale. In the course of this preparatory work Cavendish increasingly advises on capital raisings for growth-orientated businesses; as part of a broader programme of working with shareholders to achieve their longer-term goals.
“Myself and the rest of the iSmash management team are extremely excited that we are now in a position to set off on our next stage of expansion having secured this round of funding. We have arrived at a fantastic outcome. At this critical stage in the business it has been important that we make all of the right decisions along the way and appointing Cavendish was one of these key decisions. We have worked with very professional and motivated individuals in Jonathan and Duncan on various stages of the process. We look forward to working with the Cavendish team again as our business develops toward our ultimate goals.”
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