BGF backs The Paint Shed’s planned expansion
Michael Rolland, managing director, with Ogilvie Rolland
BGF has invested £2.7 million in The Paint Shed, to expand its online presence and accelerate the roll out of five stores.
It will also help expand the Stirling-based company’s online presence and ecommerce capabilities creating an additional 20 jobs over the next 24 months.
The Paint Shed has appointed Angela Luger, former CEO of N Brown, as non-executive chairman following an introduction by BGF. She spent five years as chief executive of N Brown and The Original Factory Shop, and has held senior executive positions at Debenhams, Asda and Mars.
The company was founded by Ogilvie Rolland in 1995 and has a network of 15 stores across central Scotland.
During lockdown The Paint Shed quickly adapted to the closure of its stores and focused on driving online sales with the launch of a new click and collect service. The Paint Shed also completed work on its newest outlet in Anniesland, which opened in March, alongside its network of other stores.
Mr Rolland, founder and executive chairman, The Paint Shed, said: “The past few months have been challenging for many companies, our staff and management have worked hard to ensure that the business is ready to operate in our new normal way to shop for paint. Over the past four years our online sales have grown by 100% year on year, and this has accelerated further post the coronavirus outbreak.”
Ms Luger said: “It is no question that times are tough for businesses, but there are also many opportunities to capitalise on. The Paint Shed has delivered considerable growth in the past five years and adapted well to the challenges that Covid has presented.”
Graham Clarke, BGF Investor who will join the board, said: “It is fantastic to see how the team has successfully grown the business over this period and more recently reacted quickly to adapt the business in response to Covid-19 outbreak and ensure it is in the strongest possible position to deliver its long term expansion plans.”