July 23, 2019
Joloda International Ltd, a fast-growing manufacturing company based in Speke has received an initial investment of £7.5m from BGF to support its expansion plans and complete the acquisition from the previous owners. Joloda International designs and produces technology which improves or automates the process of loading and unloading cargo into vehicles. It employs 140 staff and has a strong heritage of innovation.
Following a BIMBO transaction in 2017 led by chief executive Michele Dematteis, sales director Wouter Satijn and operations director Alec McAndrew, Joloda has doubled revenues to more than £18m and integrated two acquisitions in the UK and Germany. BGF’s backing – which marks the organisation’s commitment of a total of £2bn worth of investment into UK and Irish SMEs – will be used to unlock further growth in international markets through continued innovation of new products and complementary acquisitions.
Dematteis said: “Joloda is experiencing exceptional growth as we have innovated new technologies into our loading systems and taken them to key international markets. We believe there is still huge untapped potential around the globe as customers are becoming aware of the significant efficiencies our products can offer to their operations. “Working with a long-term investor that understands and supports our vision for the business will allow us to confidently accelerate these plans and we’re delighted to have found that in BGF.”
As part of group’s growth strategy, Joloda has appointed non-executive chair Mike Molesworth following an introduction by BGF’s Talent Network. He is also non-executive chairman at BGF portfolio business EBS Aftermarket Group and the former chief executive of Dennis Eagle, a global supplier of refuse collection trucks. Neil Inskip, BGF investor and head of its North West and North Wales offices, added: “Taking a business with such a strong heritage and using technology to transform its offering for a global market is the very essence of great British entrepreneurship. Michele and the team have a proven track record, ambitious growth plans and we’re delighted to be partnering with them for this exciting next stage of their journey.”