BGF invests £7.5m in Joloda International
A fast growing manufacturing firm based in Merseyside has received an initial investment of £7.5m from BGF, the UK and Ireland’s most active investor in growing businesses, to support its expansion.
Headquartered in Speke in Merseyside, Joloda International designs and manufactures loading technology systems that improve or automate the process of loading and unloading cargo into vehicles. The business, which employs 140 people, has a strong heritage of innovation and has invested heavily to develop its product suite in response to an increasingly sophisticated global customer base.
Following a BIMBO transaction in 2017 led by CEO Michele Dematteis, Sales Director Wouter Satjin and Operations Director Alec McAndrew, Joloda has doubled revenues to more than £18m and integrated two acquisitions in the UK and Germany. The business is forecasting further growth internationally to customers that will use Joloda’s systems in their warehouse operations to save time, improve vehicle space utilisation, avoid bottlenecks and reduce their impact on the environment.
In addition to its headquarters, Joloda has a manufacturing plant in Anglesey in North Wales. The company has two further bases in North Carolina and the Netherlands, and a global network of distributors.
80% of Joloda’s client base is outside of the UK and spans food production, e-commerce, logistics, and manufacturing.
BGF’s backing will be used to unlock further growth in international markets through continued innovation of new products and complementary acquisitions to accelerate expansion.
Michele Dematteis, CEO of Joloda International, said: “Joloda is experiencing exceptional growth as we have innovated new technologies into our loading systems and taken them to key international markets. We believe there is still huge untapped potential around the globe as customers are becoming aware of the significant efficiencies our products can offer to their operations.
“Working with a long-term investor that understands and supports our vision for the business will allow us to confidently accelerate these plans and we’re delighted to have found that in BGF.”
As part of group’s future growth strategy, Joloda has appointed non-executive Chair Mike Molesworth following an introduction by BGF’s Talent Network. Mike is also non-executive Chair at BGF portfolio business, EBS Aftermarket Group and the former CEO of Dennis Eagle, a global supplier of refuse collection trucks.
Neil Inskip, BGF investor and head of its North West and North Wales offices, added: “Taking a business with such a strong heritage and using technology to transform its offering for a global market is the very essence of great British entrepreneurship. Michele and the team have a proven track record, ambitious growth plans and we’re delighted to be partnering with them for this exciting next stage of their journey.
“Joloda is our fourth investment into Merseyside and we believe in the potential of the region to build more businesses of scale through investing more in the companies based there.”
BGF’s North West office has invested more than £280m of initial and follow-on investments across 30 businesses in the region since 2011.
Photo L-R: Joloda CEO Michele Dematteis and Sales Director Wouter Satijn
Business funding news
BGF welcomes successful exit of Brindley Healthcare
BGF has welcomed the successful acquisition of a 50% shareholding in Brindley Healthcare by French multinational Orpea, a leading European…
BGF to become cornerstone investor in Calnex Solutions’ IPO
BGF has today announced that it is investing in Calnex Solutions plc, an established provider of test and measurement solutions…