Akula Living, a marine-grade outdoor furniture manufacturer to hospitality and cruise operators, has attracted a multi-million pound investment from BGF.
Founded by CEO Tim Appleton in 2009, Akula is a Yorkshire export success story, which counts global brands such as Royal Caribbean, Four Seasons, Holland America, Marriott, and Hilton among its list of clients.
With 95% of sales to overseas markets, the company was recently honoured by the King’s Award for Enterprise in International Trade 2023.
Tim Appleton, CEO at Akula Living, said: “We’ve achieved strong growth to date, but wanted to partner with an investor who could help us to supercharge our ambitions.
“When you combine our experience, originating from a nearly 100-year legacy of textile manufacturing, with BGF’s expertise and track record of scaling businesses, we’re a force to be reckoned with. This latest investment will not only enhance the company’s market position but also contribute significantly to the broader economy.”
The partnership was led by Chris Boyes and James Baker, investors in BGF’s Yorkshire team, with BGF portfolio director Becky Odam joining Akula’s board on completion. Andy Dunkley has been named non-executive chair (NXC), having been introduced via BGF’s Talent Network – one of the UK and Ireland’s largest groups of board-level non-executives.
Chris Boyes, investor at BGF, said: “Akula is a fantastic company, which has demonstrated excellent growth, partnering with some of the world’s most recognisable brands in the hotel and cruise industries.
“We’ve been hugely impressed by Tim and the team and look forward to working together to achieve our global ambitions for the business.”
