Hamilton Brady wins equity investment
FINANCIAL claims management firm Hamilton Brady has secured an equity investment from London-based investment firm Consilium Ventures, for an undisclosed sum.
The Wilmslow firm was founded in June last year by Eazyfone Group founder Pete Petrondas with Quy Tien, who is managing director. It formally launched, taking cases from the public in November.
It claims to offer consumers “a risk free way to claim compensation” on unsecured personal loans, mis-sold Payment Protection Insurance (PPI), unwarranted bank and credit card charges, unenforceable credit agreements and personal injuries.
Mr Petrondas, who is still a shareholder in Macclesfield-based mobile recycler Eazyfone, which runs the mobile phone recycling website, envirofone.com, also remains majority shareholder and executive chairman of Hamilton Brady following the investment.
Although Reluctant to reveal turnover figures, he told TheBusnessDesk that the business is trading profitably and that the money raised would be used to “deliver a high growth strategy”.
Hamilton Brady employs 14 staff and this is expected to rise to at least 35 in the next six months. The company also plans to expand its floorplate at its existing premises at Springfield House.
A large chunk of the investment will be used for marketing, to develop the company’s brand and business.
Mr Petrondas said: “The capital will allow us to increase our market penetration and deliver on our rapid expansion strategy.”
He added: “To attract this investment from a leading investment firm such as Consilium Ventures proves that, when a strategy is executed correctly by an experienced management team, there exists significant long-term potential for ethical, customer focused businesses in a marketplace notorious for its deficiencies and highly fragmented nature.”
Mr Tien added: “Securing the investment from Consilium Ventures is a major coup for the business and gives us a distinct competitive advantage in a sector notorious for less organised and often severely under-capitalised entrants.”
Consilium Ventures will take a substantial minority equity stake in the business through its investment.
Curt Hopkins, chief executive of Consilium Ventures, said: “Hamilton Brady has demonstrated through its service, systems and management that it is a clear leader in its field and, as leading investment partner, we are looking forward to a long and successful future with the management team as they execute their strategy.
“Pete is an exceptional entrepreneur with a history of delivering shareholder value, and he is complemented in this case by a first class management team led by co-founder and managing director Quy Tien.”
