Funding fuels Play Company’s growth plans

A play equipment specialist is set to expand its operations and international presence following a funding boost.

The Play Company, based in Kingsbridge, in South Devon, has secured a £500,000 loan from the British Business Bank’s South West Investment Fund, managed by The FSE Group.

Initially a soft play maintenance provider, The Play Company, which enjoyed a 70 per cent turnover increase last year, transitioned into full-service design, manufacture and installation before the pandemic. 

Bosses say the cash will support “ambitious growth targets”, including creating 20 new jobs over the next three years, moving to larger premises, and increasing the company’s global reach by expanding marketing efforts to tap into the $30 billion global family entertainment market.

Elliott Myatt, managing director of The Play Company, said: “We’re excited to use this South West Investment Fund loan to build on recent successes and convert our robust pipeline into new contracts. 

“As a newly profit generating business, we don’t fit the criteria for high street lenders, so finding in FSE a funder that is focused on the growth potential of our offering is refreshing. 

“This investment will be pivotal in achieving our ambitious growth targets.”

Rob Ward, investment manager at The FSE Group, added: “As a projection-led lender, we are thrilled to support The Play Company, a business with a strong reputation and significant growth trajectory both in the UK and internationally. 

“The award-winning management team has demonstrated resilience and innovation, and we are confident in their ability to achieve their ambitious expansion goals.”

The South West Investment Fund offers loans from £25,000 to £100,000, debt finance up to £2 million, and equity investment up to £5 million, helping smaller businesses access funding they might otherwise struggle to secure.

Paul Jones, senior investment manager at the British Business Bank, added: “The South West Investment Fund is designed to unlock growth opportunities for businesses across the region and The Play Company is a great example of the impact that access to finance can have, especially when a business might not have the trading track record to satisfy many lenders. 

“This investment will drive future growth and create a significant number of new jobs.”

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