The northern-based Better Bathrooms chain is planning UK-wide expansion after securing a £10m injection of capital from Business Growth Fund.
Better Bathrooms, which currently has showrooms in Manchester, Wigan and Warrington and a trade counter in Leigh, Lancashire, says it is now on track to create 500 new jobs across the UK over the course of the next five years.

In 2007 Better Bathrooms' annual turnover stood at just over £1m but rose to £32m in the last financial year, and the company has a target of reaching £40m within the next 12 months. Its offer comprises bathroom suites, showers, accessories and tiles.

As a result of the deal, BGF will take a minority stake in the company and will join the board. In addition, BGF has introduced Paul Gilbert, non-executive chairman of The Gym Group and former financial director of Matalan, as a new non-executive chairman of the business.

The investment in Better Bathrooms will help accelerate growth by allowing the company to explore alternative source supplies and expand into new markets and potentially overseas.

Founder Colin Stevens said: "I believe that with BGF's investment and expertise, we will be able to take the company to the next level, expanding our factories and product lines, and ultimately hit our future growth target of £200m."

David Colclough, an investment director who sits within BGF's Manchester-based team, added: "Better Bathrooms was the first UK business to carve out a position as a true multi-channel retailer of bathroom products. A leader in its space, it offers one of the largest and best value ranges in the UK.

"The growth that this company has demonstrated over the last 12 years has been outstanding. But Colin, who is an extremely passionate and driven entrepreneur, is keen to do it on a much bigger scale.

"This is where BGF comes in, and it is a great example of how growth capital can really help a business with ambitions to expand."