Teaching Art Limited supplies an extensive range of paints, inks and other products from its premises in Newark and Manchester. However, it is best known as the company behind the SAA, which with over 43,000 members is believed to be the world’s largest art community.
Teaching Art also sells art and craft materials to the public through its Artifolk and SAA websites and supplies leading retailers including Hobbycraft and Ryman via its trade company Artcoe, which was acquired in 2006.
It is one of a limited number of UK businesses to be accepted as an Amazon Prime supplier. The company has its own TV studio in Newark where it produces material for its digital channels, and 'Live' streaming.
Not only was the business seeking further investment to fund its significant organic growth, it was also seeking backing for further acquisitions.
The business has secured £4m backing from PHD Equity Partners and Praetura Commercial Finance to fund its continued expansion. Praetura Commercial Finance delivered a seven-figure working capital line against a mix of assets to deliver funding that will keep pace with the growth of the business. The additional working capital will also provide additional financial headroom for the business to embark on selective acquisitions.”
Andy Dodd and Craig Richardson led the deal for PHD Equity Partners. Andy Dodd said:
“Partnering with Praetura Commercial Finance In this transaction has been an absolute breeze. They are highly commercial and most importantly we can always speak to decision-makers directly without any unnecessary layers of bureaucracy.”
“Teaching Art is a well-established business with an enthusiastic and loyal customer base and a highly efficient distribution network. We see huge potential to increase engagement with SAA members, develop new products and services and expand sales in Europe and beyond. We look forward to working with Praetura Commercial Finance and the management team as the company enters this exciting new stage in its growth.”
Stuart Bates, Commercial Director of Praetura Commercial Finance, added: “We are delighted to support PHD Equity Partners and the management team at Teaching Art Limited on this transaction. This is an exciting business operating in a rapidly expanding market with significant capacity for further growth. We look forward to working with them on the journey to help them realise their strategic ambitions.”