Business Growth Fund, which is backed by various UK banks, has invested £4.2m ($6.6bn) in AFG Media, a fancy dress company best known for its so-called morphsuits [pictured].
The business’ revenues have grown from £1.2m in 2010 to £11m in 2012.
The company had 300% growth year on year. The company has marketed via social media securing one million fans on its Facebook page.
AFG Media has also expanded to produce party wear under the name Foul Fashion and makes patterned and colourful golf clothing under the name Royal & Awesome.
Ralph Kugler has joined the business as chairman. Kugler has been on the boards of UK-based hotel group InterContinental Hotels and Unilever. At the Anglo-Dutch consumer goods company he was global president for the €19bn ($23.9bn) Home and Personal Care categories.
Grant Thornton and DLA Piper advised BGF, and Ernst and Young, Ignition Corporate Finance and Morton Fraser advised AFG Media.