Rubicon Partners invests in Bamboo Distribution Ltd To Provide Growth Boost

Bamboo Distribution Web Ready
  • Bamboo has enjoyed organic growth in recent years but is set to benefit from a “sophisticated and experienced” sponsor partner to enable next stage of progress
  • Rubicon Partners – with a 28-year track record – will support Bamboo’s ambitions following successful completion of majority buy-out
  • Shawbrook Bank supported the acquisition through £19.8m leverage finance facilities comprising term loans, revolving credit and committed tranches

Mobile phone supply and refurbishment business, Bamboo Distribution Ltd, a Hertfordshire-based business-to-business mobile phone supply, refurbishment and recycling business, has received investment from Rubicon Partners.

Bamboo focuses on the insurance sector and supplies new or grade A mobiles to insurers complemented by other value-add services.

Bamboo has enjoyed a strong growth trajectory in recent years, and in 2020 was voted 24th in the Sunday Times’ 2020 Profit Track 100 list.

The business has reached a scale where it will benefit from the support and expertise of a “sophisticated and experienced” partner to capitalise on further growth opportunities.

 

Juney Mistiki, Managing Director and co-founder at Bamboo Distribution Ltd – which received investment  through Rubicon equity investment and finance provided by specialist lender, Shawbrook Bank – said:

“Rubicon’s decision to invest in our company is based on a number of strategic factors - Bamboo Distribution’s commitment to sustainability, our compliance with all environmental and data protection regulations, current and projected growth expectations, operational capabilities and our specialist knowledge of the mobile refurbishing, distribution, recycling and buy-back sectors. Bamboo acknowledges that to reach its full potential we needed a strong, experienced, reputable partner like Rubicon, who will support us through our development and growth strategy.”

 

Founded in 2009, Bamboo Distribution Ltd supplies new, refurbished and used mobile devices and offers distribution, fulfilment, salvage management and recycling solutions, with its core services specialising in mobile phone insurance and warranty schemes. The business works with major brands across insurance companies, retailers, authorised distributors and exporters.

Rubicon Partners has a 28-year track record in investing in businesses and has invested in 74 organisations to date. The acquisition of Bamboo is the second from its recently closed fund.

 

Andrew Fischer, Partner and Co-Founder at Rubicon, said

“Bamboo Distribution’s market leadership, excellent customer relationships and most importantly, the company ethos, makes the business a valuable partner. It was clear from our discussions that customers highly value Bamboo Distribution’s services and the company’s operations contain the capacity required to capitalise on the sector’s growth predictions. Rubicon’s investment will support Bamboo to gain a strong foothold in Europe with its already strong and stable established partners.”

 

Rubicon has been supported by Shawbrook Bank on numerous occasions, with the lender supplying facilities to support several other investments.

 

Adam Agius, Relationship Director at Shawbrook Bank – which structured the facilities through a £19.8m facility consisting acquisition term loan, working capital revolving credit and a committed tranche – said:

“This was an outstanding opportunity to provide funding to a well-known, experienced and successful private equity sponsor as they looked to support an established business armed with excellent scale potential and strong in-house IP. We truly believe that this partnership will accelerate growth for Bamboo and are eager to see how the company progresses.”

 

Shawbrook were advised on the transaction by Pinsent Masons LLP.