BGF previously backed GCI Telecom Group last year.
The Business Growth Fund, the UK bank-backed fund set
up to meet the country's equity funding gap, has put £3.5m (€4.1m) into
Bullitt Group, a maker of high-durability mobile phones for the likes
of JCB and Caterpillar.
The Reading group, which employs 30
people, was founded four years ago by two former Motorola executives
David Floyd and Colin Batt, as well as Richard Wharton.
Bullitt
runs an integrated model for the brands it works with, from product
conception through to distribution and marketing of the products.
This
heavy-duty niche of the mobile phones market is estimated to be worth
between $700m (€515m) and $1bn, with around 20 million handsets sold per
annum.
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