Published on April 29th, 2019 | by The GC Team0
North West electricals firm receives £21m expansion funding
Wigan-based electricals distributor Matchstick Men Group has received a funding package worth £21.5 million, an investment it anticipates will help boost Group turnover by 30% and create up to 100 new jobs across its three divisions: G2S, Product Care, and Design and Trade.
Matchstick Men Group was established in 2009 and has a turnover in excess of £50 million.
The Group will use the funding to double the size of its palletised storage and distribution facility for its G2S division, which provides ‘one-stop-shop’ product sourcing and supply solutions for retailers, and to drive investment into its Product Care division, which provides home delivery and installation services.
This includes plans to expand its existing fleet of delivery vans and recruit up to 60 new home delivery technicians across its North West and Midlands distribution centres. The investment will allow the Group to scale up its delivery and installation offering to retailers, as well as facilitating expansion into the housing rental sector.
Lewis Moore, Finance Director of the Group (pictured left), said: “We’ve seen a strong demand not only from the major retailers but also from our wider customer base for our products and more recently for the wraparound services that complement those products.
“With this in mind we are investing in infrastructure and people to enhance these services. Underpinning this is the strategic investment we’ll be making into growing the capabilities of Product Care, strengthening our end-to-end customer offering.”
Moore added that the Group is now ideally placed to achieve its growth ambitions, both in the UK and Europe.
Matchstick Men Group employs 132 people at its Wigan HQ, 26 at its distribution site in Daventry and 10 at its office in China.