Rooney invests in pioneering Swellaway

ENGLAND and Manchester United striker Wayne Rooney has invested in
Swellaway, a new business which has developed a treatment for muscle strains.

Swellaway, which was founded in Sheffield but has recently relocated to Lymm, Cheshire, is 12.35% owned by Rooney, while Coleen, his wife has a 5% stake in the company, which has developed a patented medical device designed to treat injuries in humans and animals.

The product was designed by Richard Mills, and will initially be launched to the equine market and then shortly afterwards to humans. It works by applying cooling, heating and compression.

Swellaway aims to prevent injuries, reduces inflammation and aids rehabilitation all in one controllable electronic wireless device. Mr Rooney is understood to have tried the device and was so impressed that he decided to invest.

Business development director Richard Mills said: “By undertaking thorough market research, including beta product development, surveys and product testing, we’ve been able to identify a massive gap in the market.

“Having secured backing from Manchester-based venture capitalist Acceleris Capital and other investors including Wayne Rooney, we’re now ready to start commercialising this innovative product and take it to market.”

Swellaway has already secured major interest from the largest UK equine distributor for around circa 1,500 units a year.

Mr Mills added: “The interest we are generating and the high profile backing we have secured so far underlines the huge growth potential for Swellaway within several customer segments.

“Late 2014 will see us open to a second round of funding, as we launch this game changing product and drive growth from a worldwide market opportunity.”

The company is being advised by Manchester-based corporate finance adviser Acceleris Capital, part of the Seneca Group.  Acceleris also advised the Rooneys who invested through the Enterprise Investment Scheme (EIS) and the SEIS, the Seed Enterprise Investment Scheme.

Norman Molyneux, chief executive of Acceleris Capital and director at Seneca Partners said: “We have enjoyed working with the Swellaway team and are very impressed with the product they have designed and produced. We look forward to continuing to advise the company ahead of final development and launch to the market in 2015.”