BGF has made a multi-million pound investment in an online children’s clothing retailer serving customers across the UK.
Character.com is headquartered in Swansea and was founded by husband and wife team Stephen and Karen Hewitt. As part of the investment, BGF took a 23 percent stake in the company.
The company’s turnover has grown from less than £ 10million in fiscal July 2017 to over £ 50million in fiscal July 2021.
Karen Hubbard joins the Board of Directors upon completion of her tenure as Non-Executive Chairman, bringing her retail experience throughout her career at The Card Factory, B&M and Asda. She is currently president of Redu Group and Moteefe, supported by BGF.
Stephen Hewitt said: “We have grown our business significantly since its inception in 2009, and it was extremely important for us to find a partner who would support us to drive the next phase of growth, while maintaining the culture and brand that we love.
“We have found this at BGF and we are delighted to jointly realize our future plans for the company. “
Edwin Davies led the case for BGF alongside Hannah Waters and Alex Garfitt. BGF’s investment in Character.com marks the second multi-million pound deal in Wales in a week after making a £ 14million investment in Victorian Sliders
Davies said, “Now is the perfect time to work with a growing and ambitious company like Character.com.
“Steve and Karen are a very strong team with a clear plan for the future and we are delighted to be a part of their journey.”
Grant Thornton advised Character.com on the matter.