FSP’s Private Equity & Venture Capital team has advised the British Business Bank’s South West Investment Fund through appointed Fund Manager, The FSE Group, on an equity investment into Bower Collective, which has now raised £6.6 million to date.
Bower Collective is an eco-friendly sustainable company founded in 2020, reducing waste via natural home and personal care products and reusable packaging. They have a goal of eliminating single usage plastics and promoting environmentally friendly households, inspired by the resourceful Bowerbird.
CEO and co-founder of Bower Collective, Nick Torday, stated: “We’re delighted to receive this investment, which will enable us to enhance our operational efficiency, continue to grow our digital subscription business and expand our B2B channel growth. Our mission to eliminate plastic waste is more urgent than ever and, with this support, we’re well set to scale our impact even further.”
The B Corp certified company, with over 90% of products made in the UK create products without parabens, bleach synthetic fragrances and more. They use 100% natural components and an innovative packaging BowerPack™ which incorporates QR codes to allow customers to trace the number of times the package has been used prior. This is in order to keep the process transparent.
Paul Jones, Senior Investment Manager from the British Business Bank said: “The South West Investment Fund was created to support ambitious and innovative businesses like Bower Collective, helping them scale and drive sustainable growth in the region. Bower’s commitment to eliminating plastic waste through circular economy principles aligns strongly with our mission to back businesses that deliver both commercial success and positive environmental impact.”
All Bower products must fall into their 4-point sustainability criteria which includes waste reduction, low carbon products and services, non-toxic ingredients and a transparent and ethical supply chain, with suppliers that meet the Ethical Trade Initiative base code.
The FSE Group Investment Manager, Matt Browning, noted the following: “Bower’s management team has shown exception innovation and commitment to sustainability, which aligns well with our investment philosophy. They have demonstrated strong market demand for their outstanding products and we’re excited to support them in their mission to tackle the pervasive issue of plastic waste.”
The team at FSP was led by Partner and Head of Private Equity & Venture Capital Penelope Garden with assistance from Partner Rachael Maunder and Solicitor Lauren Lashley.
