The British Private Equity & Venture Capital Association (BVCA) announced Shnuggle as one of the winners of the Northern Ireland Management Team Awards 2016, at their annual celebration of excellence in private equity and venture capital, produced in association with Grant Thornton UK LLP.
Now in its eighth year, the BVCA Management Team Awards recognise and reward the achievements and success of businesses across the UK which are backed by private equity and venture capital funds.
All of the winners were presented with their prizes at the annual BVCA Northern Ireland Dinner, held at The Merchant Hotel, Belfast on 1st September. They will now be entered into the national final to compete against other UK regions, and the national winners will be announced at the BVCA Gala Dinner on 8 December in London.
The full list of winners for the BVCA Northern Ireland Management Team Awards 2016:
Seven Technologies Group, backed by YFM: Category - Mid Market Team
Shnuggle, backed by Clarendon Fund Managers and Halo Business Angel Network: Category - Venture or Growth Company Team
Colin Reid, Total Mobile, backed by Lyceum Capital: Category - CEO
Venture or Growth Company Team - Shnuggle
Backed by Clarendon Fund Managers and Halo Business Angel Network
Shnuggle is an innovative baby products company based in County Down. Founded by Adam and Sinead Murphy, they draw on their experience as parents to design unique and multi-award winning baby products.
Founded in 2009 with £50,000 of personal investment, in 2010 the business launched the world’s first hypo-allergenic Moses basket. Turnover growth and profit growth has been substantial, and Shnuggle’s products can be found in retail chains like John Lewis, The White Company and Argos, as well as selling around the world in countries such as China, the USA and Brazil. In 2013 the business raised its first round of external investment via the Halo Business Network, followed by a second in 2014. Clarendon Fund Managers is also an investor.
Judges’ comments: “We were impressed with the quality of the product, the development of the brand, the growth Shnuggle has achieved and the fact the business is already turning a profit.”
Peter Garvey, Chair of the Northern Ireland judging panel and Managing Director at The Carlyle Group, said: “This year’s winners demonstrate the important role private equity and venture capital plays in developing vibrant businesses that contribute to Northern Ireland’s economic success. The BVCA Management Team Awards are a recognition and celebration of outstanding business performance and management team excellence across the country, and Northern Ireland has produced an outstanding set of companies. Good luck to all in the national finals.”
Richard Gillan, Managing Partner of Grant Thornton Northern Ireland, said: "Grant Thornton is proud to be associated with the BVCA Management Team Awards and delighted that the quality of entries and level of competition for this year’s awards has been so high. The winners reflect the high quality businesses in Northern Ireland that are now accessing this form of investment to help them grow and ensure their businesses reach their full potential. We are delighted to not only see the range of businesses that entered the awards but also the growing number of BVCA member firms that have now invested in Northern Ireland companies.”