Mobile Fun goes on acquisition trail
Mobile phone accessories retailer Mobile Fun is accelerating its growth plans by seeking suitable acquisition targets.
The company is looking to expand and gain new routes to market through the acquisition of companies such as mobile accessories retailers, larger Ebay or Amazon businesses, mobile phone retailers, online retailers of technology products, and small distributors of mobile accessories.
Managing director Mohammed Hussain said: “Plans for organic growth are already underway, including our investment in a new distribution business, and now we are looking to accelerate company growth through acquisition. I receive several speculative approaches on LinkedIn every few months from businesses looking for a buyer. As we now have a formal acquisition process in place, we are expecting more businesses to get in touch.”
The company said it was considering both UK and overseas companies which have a turnover of between £500,000 and £10 million with profits of £100,000 to £750,000.
Hussain added: “We have achieved great momentum recently, including the launch of our brand into 24 new countries in the last 18 months. With our strong financial position, ambitious management team and proven e-commerce expertise, we are ready to grow our business even further.”
With offices in six countries and an online presence in 31 countries, the company reported record turnover and profits in the year ending March 2013 with retail sales of £11.5 million.
The acquisitions will be financed either from retained reserves, through the support of Mobile Fun’s existing investors or through growth capital partners.
