Mobile Fun Explores Possible Sale
Poster: SySAdmin
Posted on November 19, 2012 at 5:14:01 AM
Mobile Fun Explores Possible Sale
BIRMINGHAM, England, November 19, 2012 /PRNewswire/ --
Online retailer seeking new shareholders to boost growth plans
Mobile Fun, the leading online retailer for mobile device accessories has appointed
corporate finance firm Altium Capital to advise on a possible trade sale.
Founded in 2000, the independently-owned and award-winning online retailer is seeking
a buyer to support the Company in achieving its international expansion ambitions.
In the financial year ending 31st March 2012, Mobile Fun's total revenue exceeded
GBP10 million. For year ending 31st March 2013, the Company is on course to launch 20 new
countries and hit sales of GBP12+ million with a predicted EBITDA of GBP1.2 million.
Managing Director Mohammed Hussain aims to build the business to achieve GBP25 million
annual retail sales by 2017, with accelerated international expansion a central part of
his strategy.
Mohammed Hussain commented: "We typically receive several approaches a year from both
private equity and trade buyers in the UK and from overseas. We feel that the timing is
now right to find new shareholders for our growing and profitable online business. Our
sophisticated online retail platform, combined with expertise in international e-commerce
and mobile device accessories is unrivalled. Our website traffic is a testament to our
success - with a record 3.1 million visits in September 2012. With the right investment,
we will further strengthen our market position and be ready to grow exponentially in the
expanding smart devices market.
Mohammed continued: "During this process, it's business as usual at Mobile Fun as our
team is working on a record Christmas quarter. We're already experiencing increased sales,
following the release of the iPhone 5 and iPad Mini, as well as a number of other hero
tablets and smart phones."
Andy Clarke, from Altium Capital in Manchester, said: "Mobile Fun is a high growth
potential company operating in a very attractive market which has proved remarkably
resilient to the current economic conditions. As Mobile Fun presents a unique opportunity,
we anticipate initial discussions with potential new shareholders taking place before
Christmas. If a suitable party emerges, an agreement could be in place by early 2013."
Mobile Fun operates in an expanding sector, with analysts including ABI Research[1]
predicting that by 2017, smartphone accessories will grow to $38 billion in revenues,
while feature phone accessory revenues decline to $12 billion. As the UK's leading online
retailer of accessories for mobiles, smart phones, tablets and other mobile devices,
Mobile Fun offers over 6,500 products and ships to 50+ countries.
The retailer has a firm foothold in the UK through MobileFun.co.uk and complementary
brands including GearZap.com, GamingZap.com and LoveCases.co.uk.
Mobile Fun's strategy of launching dedicated localised websites with native language
speaking customer service is paying dividends, with international sales jumping by 161% in
the last financial year. Mobile Fun now has international presence in Australia, Austria,
Belgium, Canada, France, Germany, Hong Kong Ireland, India, Italy, the Netherlands, Spain,
and the USA. The retailer also operates offices in France, Germany, Spain and the USA.
1. http://www.abiresearch.com/press/smartphone-accessory-revenues-valued-at-20-billion
About Mobile Fun
Mobile Fun is the UK's leading Internet retailer offering a market leading range of
accessories for mobile phones, tablets and other mobile devices from its growing portfolio
of international websites.
With a product range of over 6,500 globally-sourced mobile accessories available on
its websites, Mobile Fun has successfully established a market-leading position within the
competitive mobile, smartphone and tablet sectors.
Mobile Fun was ranked as the UK's 7th 'Fastest Growing Technology Based Company' in
the Sunday Times 2006 Microsoft Tech Track 100, was awarded the 'Online Retailer of the
Year' title at the Mobile News Awards 2011 then again in 2012; won Best Online Business
(Consumer) at the ECMOD Awards 2012, the Online Retail Awards 2011 and 2012 'Computers and
Telecommunications' category and What Mobile's Best Accessory Retailer 2012.
About Altium Capital
Altium is an international investment banking and corporate finance advisory firm
offering the full range of services for public and private companies, private equity firms
and entrepreneurs, including mergers & acquisitions, private placement of debt and equity
capital, management buy-outs, structured financing and financial restructuring. Altium
employs over 120 corporate finance professionals in ten offices across eight countries.
For other information, contact: Andy Clarke at Altium Capital on +44(0)845-505-4343 or
http://www.altiumcapital.com
Mobile Fun and Altium Capital
CONTACT: For more media information, contact Ranbir Sahota at Vitis PR on +44(0)121-242-8048 or ranbir@vitispr.com
BIRMINGHAM, England, November 19, 2012 /PRNewswire/ --
Online retailer seeking new shareholders to boost growth plans
Mobile Fun, the leading online retailer for mobile device accessories has appointed
corporate finance firm Altium Capital to advise on a possible trade sale.
Founded in 2000, the independently-owned and award-winning online retailer is seeking
a buyer to support the Company in achieving its international expansion ambitions.
In the financial year ending 31st March 2012, Mobile Fun's total revenue exceeded
GBP10 million. For year ending 31st March 2013, the Company is on course to launch 20 new
countries and hit sales of GBP12+ million with a predicted EBITDA of GBP1.2 million.
Managing Director Mohammed Hussain aims to build the business to achieve GBP25 million
annual retail sales by 2017, with accelerated international expansion a central part of
his strategy.
Mohammed Hussain commented: "We typically receive several approaches a year from both
private equity and trade buyers in the UK and from overseas. We feel that the timing is
now right to find new shareholders for our growing and profitable online business. Our
sophisticated online retail platform, combined with expertise in international e-commerce
and mobile device accessories is unrivalled. Our website traffic is a testament to our
success - with a record 3.1 million visits in September 2012. With the right investment,
we will further strengthen our market position and be ready to grow exponentially in the
expanding smart devices market.
Mohammed continued: "During this process, it's business as usual at Mobile Fun as our
team is working on a record Christmas quarter. We're already experiencing increased sales,
following the release of the iPhone 5 and iPad Mini, as well as a number of other hero
tablets and smart phones."
Andy Clarke, from Altium Capital in Manchester, said: "Mobile Fun is a high growth
potential company operating in a very attractive market which has proved remarkably
resilient to the current economic conditions. As Mobile Fun presents a unique opportunity,
we anticipate initial discussions with potential new shareholders taking place before
Christmas. If a suitable party emerges, an agreement could be in place by early 2013."
Mobile Fun operates in an expanding sector, with analysts including ABI Research[1]
predicting that by 2017, smartphone accessories will grow to $38 billion in revenues,
while feature phone accessory revenues decline to $12 billion. As the UK's leading online
retailer of accessories for mobiles, smart phones, tablets and other mobile devices,
Mobile Fun offers over 6,500 products and ships to 50+ countries.
The retailer has a firm foothold in the UK through MobileFun.co.uk and complementary
brands including GearZap.com, GamingZap.com and LoveCases.co.uk.
Mobile Fun's strategy of launching dedicated localised websites with native language
speaking customer service is paying dividends, with international sales jumping by 161% in
the last financial year. Mobile Fun now has international presence in Australia, Austria,
Belgium, Canada, France, Germany, Hong Kong Ireland, India, Italy, the Netherlands, Spain,
and the USA. The retailer also operates offices in France, Germany, Spain and the USA.
1. http://www.abiresearch.com/press/smartphone-accessory-revenues-valued-at-20-billion
About Mobile Fun
Mobile Fun is the UK's leading Internet retailer offering a market leading range of
accessories for mobile phones, tablets and other mobile devices from its growing portfolio
of international websites.
With a product range of over 6,500 globally-sourced mobile accessories available on
its websites, Mobile Fun has successfully established a market-leading position within the
competitive mobile, smartphone and tablet sectors.
Mobile Fun was ranked as the UK's 7th 'Fastest Growing Technology Based Company' in
the Sunday Times 2006 Microsoft Tech Track 100, was awarded the 'Online Retailer of the
Year' title at the Mobile News Awards 2011 then again in 2012; won Best Online Business
(Consumer) at the ECMOD Awards 2012, the Online Retail Awards 2011 and 2012 'Computers and
Telecommunications' category and What Mobile's Best Accessory Retailer 2012.
About Altium Capital
Altium is an international investment banking and corporate finance advisory firm
offering the full range of services for public and private companies, private equity firms
and entrepreneurs, including mergers & acquisitions, private placement of debt and equity
capital, management buy-outs, structured financing and financial restructuring. Altium
employs over 120 corporate finance professionals in ten offices across eight countries.
For other information, contact: Andy Clarke at Altium Capital on +44(0)845-505-4343 or
http://www.altiumcapital.com
Mobile Fun and Altium Capital
CONTACT: For more media information, contact Ranbir Sahota at Vitis PR on +44(0)121-242-8048 or ranbir@vitispr.com