Backed by Maven
Candle Shack raises funds for European expansion
Founders: Cheryl and Duncan MacLean
Candle Shack, an e-commerce business which supplies candle-making components and contract candle manufacture for luxury international brands, has raised £4.4 million to pursue its European expansion plan.
The Falkirk-based firm, a family-run business with more than 100 employees, operates from a 100,000 sq ft facility in West Carron, which includes a fulfilment centre, development lab and manufacturing site.
The company has recorded a five-fold increase in turnover over the past three years.
The business develops and supplies components for candle-making to a customer base of more than 34,000 throughout Europe. As well as artisan candle makers, it operates a contract manufacturing service, supplying candles to a range of large brands, including Fornasetti.
The new finance has been raised via Maven Capital Partners and includes a £1.4m debt facility, which will help Candle Shack develop its sales and marketing function, expand its EU operations with a new base in the Netherlands, fund new product development and improve operational efficiency. Fifty jobs will be created.
CEO Duncan MacLean, who set up the business with his wife Cheryl in 2010, said the investment marked a pivotal step.
“Maven’s investment in Candle Shack will fuel our next phase of growth, enabling us to better support thousands of niche home fragrance brands across Europe.”