Cube International secures £3.75m investment to support new contract wins
Midlands-based sports and event management business secures £3.75m investment to support new contract wins
Cube International will use the funding from the independent asset manager BOOST&Co to support the delivery of new projects and increase its headcount
The sports and event management business Cube International has secured an investment of £3.75m from the alternative funder BOOST&Co following a series of new account wins. The funding, which will be used to underpin the delivery and management of its new projects, will also help to support its work with future new clients, not least by creating a significant number of jobs.
The Midlands-based company, which has extensive experience in sports retail merchandising, creates and manages pop-up merchandising structures for events and supports its partners’ planning and implementation of experiential campaigns.
The firm recently secured some major contracts, becoming an official partner of both the Commonwealth Games and the Rugby League World Cup, as well as being the ecommerce partner of the Aston Martin Cognizant Formula 1 Team and the Solheim Cup 2023. During the Covid-19 pandemic, Cube International provided testing facilities at sites including Heathrow Airport, NHS hospitals, supermarkets and nursing homes.
BOOST&Co has chosen to work with Cube International because the company has a strong management team with long-time experience of this industry. The lender was also impressed by the firm’s successful navigation of the pandemic. By combining its core skills of event management and temporary structure planning, the business was able to support Covid-19 testing, which has led to a sharp increase in new work.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
The independent asset manager offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
Chris Mears, principal at BOOST&Co, says: “Cube International is a professional and agile business with a client list full of household names.
“Its team has responded magnificently to the challenges of the pandemic, playing a vital role in providing Covid-19 protection and testing facilities to key services including hospitals, airports and supermarkets – actions that helped to keep the country running.
“This funding package will support the firm’s continued growth in event management, as it delivers a number of major and high-profile contracts during the next few years. It has been a pleasure to work with this excellent management team.”
Ed Boardman, chief executive at Cube International, says: “Chris Mears and Cassandra Pillay at BOOST&Co worked hard to quickly understand our business. They immediately gained our confidence and the speed of execution was impressive.
“This funding will enable us to continue the strong growth of our business, with some exciting projects on the horizon.”
Hugo Chance of Chance Capital, who advised on the deal, says: “It was a pleasure to be taken on by Cube International, a multifaceted business with an impressive management team, as exclusive advisor on their fundraising. We quickly secured interest from a number of lenders, but decided that BOOST&Co was best aligned to the firm’s requirements.
“We were delighted to co-ordinate and complete a facility that will enable the firm to fulfil a number of key growth plans. The team at BOOST&Co was a pleasure to work with and we look forward to future collaborations.”
For more information about BOOST&Co, visit boostandco.com
Part of the Cube International group, Cube Modular designs and manufactures modular portable buildings and containers of exceptional design, quality and functionality for sports events, venues, stadia and businesses.