Tactus Group, a brand developer and wholesaler for premium quality mobile phone and tablet accessories, has received a £300,000 investment from the Greater Manchester Loan Fund (GMLF).
The company will use the money to acquire a new lease for a site in Salford, expand its range of products and create up to 25 new jobs.
The GMLF, which was created in August 2013 by the Greater Manchester Combined Authority, is managed by Maven Capital Partners (Maven). The GMLF provides flexible finance solutions to businesses throughout the region to support their growth while safeguarding and creating jobs. Since its launch, it has supported over 25 businesses and the fund continues to offer SMEs across the Greater Manchester region flexible finance packages of between £100,000 up to £750,000.
Tactus was founded in 2012 by CEO Scott Brenchley. It has historically supplied products such as mobile phone and tablet accessories, through a wholesale supply service to major retailers such as Amazon, John Lewis, Selfridges, Argos and QVC. Recently it has expanded its range to encompass increasingly sophisticated and tech-driven products.
Investment Manager at Maven Alex Rothwell said: “Tactus is a hugely exciting business positioned at the very cutting edge of consumer technology. Through the GMLF loan, which will support the opening of the new warehouse, we are delighted to be supporting Tactus’ growth and the creation of new jobs in the Greater Manchester area. In this highly competitive and fast evolving technology market place companies must continue to develop innovative, valuable products to engage consumers and the highly experienced Tactus management team has consistently and successfully brought these products to market. The GMLF will continue to provide funding for other high potential SMEs in the Greater Manchester area which are looking to expand their products and services.”
CEO at Tactus Group Scott Brenchley said: “Working with Alex and the team has been a great experience and the board at Tactus are extremely excited to welcome Maven as a new partner. This injection of funds puts Tactus in a much stronger position to execute our opportunities and growth plans.”