A logistics company that transports theatre sets and equipment for many of the leading West End shows has secured a £2.5m investment to fuel its expansion following a management buy-in.
Paul Mathew Transport is the UK’s leading supplier of transport services to the theatre and live entertainment industry, with clients including the Royal Shakespeare Company, Glyndebourne Opera and many regional venues. The funding, which comes from the Midlands Engine Investment Fund II via appointed fund manager Mercia Ventures, will enable it to pursue new growth opportunities.
Established in 1980, Paul Mathew Transport has warehouses at Evesham and Alcester in the Midlands and Bognor Regis in the South. It employs 40 staff and a fleet of 40 trucks and 170 trailers, including specialist high-spec vehicles. Drivers are trained in theatre logistics, delivering to city centre venues within a tight schedule and handling stage sets.
The business was acquired last month by Eyal Kaplan, CEO and Managing Director, who has held senior roles with Amazon and TJX Europe, from founder Paul Mathew. Kaplan is now working with the existing management team led by Transport Operations Manager Mark Brockhurst to develop the company’s offering, which may include expanding its warehouse space within the West Midlands, offering a service for lighter loads, and exploring opportunities to expand into adjacent sectors.
Eyal Kaplan said, “I’m truly excited to begin this journey with Paul Mathew Transport. I am looking forward to working with the management team to build on the company’s proud legacy and to help shape the next chapter of growth, as we continue to set the standard in live entertainment transportation and warehousing.”
Shubham Jaipuria of Mercia Ventures added: “Timing is critical in the theatre industry, and shows can suffer real setbacks as a result of small delays. Paul Mathew Transport has become the leader in its field due to its reliability and expertise and the growing events market offers opportunities for further expansion. We are pleased to support Eyal, Mark and the team to help them take the business forward.”
The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides equity investment up to £5m and debt finance from £25k to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Beth Bannister, Senior Investment Manager at the British Business Bank, said: “The Midlands Engine Investment Fund II helps ambitious and growing businesses in the region to access the finance they need to fuel expansion. We are delighted to support the next phase of growth for Paul Mathew Transport, as it builds on its existing experience and reputation to scale further within the live entertainment and logistics industry.”
The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
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