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Mobile Fun in search for new shareholders

Mobile News
November 19, 2012

Accessories retailer looks to hold talks with potential investors before the end of the year

Mobile Fun is looking for new investors to help fund expansion into international markets.

The Birmingham-based company, founded by Anthony Cook in 2000, has appointed investment advisors Altium Capital to seek out opportunities.

Mobile Fun MD Mohammed Hussain told Mobile News he is looking to hold talks with potential investors before Christmas, targeting a deal by Q1 2013.

Mobile Fun currently trades in 50 countries and claims sales in its international markets have risen by 161 per cent in the past financial year ending March.

The firm posted revenues of £10 million during this period and has set a goal of £25 million across all of its markets by 2017.

Hussain said: “We typically receive several approaches a year from both private equity and trade buyers in the UK and from overseas. We feel the timing is now right to find new shareholders for our growing business.

“Our website traffic is a testament to our success – with a record 3.1 million visits in September 2012. With the right investment, we will further strengthen our market position and be ready to grow exponentially in the expanding smart devices market.”

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