A logistics company transporting 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.
Evesham-based Paul Mathew Transport’s clients include the Royal Shakespeare Company, Glyndebourne Opera and many regional venues and it said the funding from the Midlands Engine Investment Fund II would enable it to pursue new growth opportunities.
The haulier was acquired last month by Eyal Kaplan, who has held senior roles with Amazon and TJX Europe, from founder Paul Mathew and he is now working with the existing management team to develop the company’s offering.
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.”
The recent investment was acquired via fund manager Mercia Ventures and its investor Shubham Jaipuria said: “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.”
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.
Paul Mathew Transport was established in 1980 and has warehouses in Alcester and Bognor Regis as well as Evesham.
It employs 40 staff and a fleet of 40 trucks and 170 trailers, including specialist high-spec vehicles.
