Growth is child’s play for playground supplier after £6m BGF investment
A Northampton-based specialist in the design and installation of children’s playgrounds, basketball and tennis courts, fitness trails and skateparks for the housebuilding sector, has secured a £6m investment from BGF.
Founded in 2000 by husband-and-wife team Richard and Julie Howard, Miracle provides bespoke playgrounds and has become a preferred partner for over 250 leading housebuilders.
Miracle has completed more than 3,000 projects since inception and has experienced strong growth, with sales almost tripling between 2021 to 2023.
The funding will support a range of initiatives, including the expansion of the business development team, enhancements to operational capabilities and the implementation project management software and CRM systems to streamline processes and improve efficiency.
Following an introduction from BGF’s Talent Network, Haydn Mursell has joined the company’s board as non-executive chair. Mursell has extensive experience in the construction and housebuilding markets, having been CFO and CEO of Kier Group from 2010 to 2019.
Post-investment, Daniel Buckley will assume the role of managing director, with Richard Howard moving to Non-Executive Founder. Daniel has been with Miracle since 2007, initially starting as a designer before moving into roles, including Design Manager, Project Manager, Commercial and Operations Manager, and most recently, Operations Director.
Richard Howard, non-executive Founder of Miracle Design & Play, said: “Over the past 20 years, Miracle has grown into a market-leading design and installation business with embedded and strategic relationships with our customers. Building on this, partnering with BGF was an important decision driven by their proven track record in helping companies grow and flourish.”
Buckley said: “We are excited about the future and the opportunities this partnership will bring to our business. This investment will not only enable us to enhance our operations and expand our reach but also strengthen our ability to innovate and deliver exceptional value to our clients.”
Mark Nunny, investor at BGF, said: “Miracle’s commitment to quality and innovation aligns perfectly with our investment philosophy. We are confident that this partnership will enable Miracle to reach new heights and continue to lead the market in designing safe and engaging play environments for children across the UK.”
BGF’s Central and East deal team, which included Mark Nunny, Nathan Heath, Elena Kovalikhina, and Tom Gilchrist, led the deal.
Miracle was advised by Amanda Hall at Quercus Corporate Finance.
She said: “Miracle is a high-quality business, and the Quercus team is delighted to have helped Richard and Julie to forge a partnership with BGF to drive the next phase of growth.”
Advisers to the deal included:
Miracle:
Quercus Corporate Finance (Amanda Hall) – lead advisory
Shaw Gibbs (Robyn Liddell) – accounting and tax
EMW Law (Simon Arkell and Hollie Tompkins) – legal
BGF:
Claritas Tax (Guy Kendall, Danny Orr and Michael Kouris) – tax
Shoosmiths (Aleks Bosch and Adam Leszczynski) – legal
