Swindon-based law firm Withy King’s corporate team has helped a City investment banker-turned-West Country angel investor back an innovative paint company.
Gavin Eddy, who has built up a portfolio of businesses, has expanded it further by investing in Cornish firm Naturepaint, which manufactures environmentally-friendly paints for interior walls, ceilings and woodwork.
Withy King helped to facilitate the buy-out of the firm’s existing investor, private equity fund Finance Cornwall, before developing a new shareholders’ agreement and reorganising its constitution to reflect the deal between Gavin and the company.
Simon Merrall, an associate in Withy King’s corporate team, said: “This was an interesting deal which reflects a growing trend among entrepreneurs to spot opportunities to invest their money and become involved with small growing businesses who may have found it difficult to attract funding from traditional sources on realistic terms.”
Gavin added: “After leaving the City, I was keen to become more involved in venture capital, in finding businesses that could benefit from my knowledge and where I could really add value.
“I was intrigued by Naturepaint as I felt that it was an interesting, innovative product in an otherwise moribund DIY market. It hadn’t managed to gain traction in the consumer market and so alongside investment, I put together an extensive marketing and communications plan.
“I believe investment opportunities in the South West are of an equal calibre to those in London. They’re just a little harder to find! I regularly liaise with different angel investor networks and I am always looking for new opportunities.”
