GMLF invests £0.3m in Tactus to support product expansion
The Greater Manchester Loan Fund (GMLF) has invested £0.3m in Tactus Group, a brand developer and wholesaler of premium quality mobile phone and tablet accessories. The funding will enable Tactus to acquire a new lease for a site in Salford, Greater Manchester to expand its product range and further penetrate the hi-tech consumer electronics sector. The acquisition of the Salford site lease will create around 10 new roles immediately with the potential for an additional 10-15 jobs over the next three years.
Founded in 2012, by CEO Scott Brenchley, who has over 20 years’ experience in the IT sales market place, Tactus has historically supplied products such as mobile phone and tablet accessories, including phone cases and headphones through a wholesale supply service to major retailers such as Amazon, John Lewis, Selfridges, Argos and QVC.
More recently the company has expanded its range to encompass increasingly sophisticated and tech-driven products. This includes the launch of Tactus’ iOTA, a Windows 10 tablet and keyboard including bundled Microsoft Mobile Office which is available to purchase through Amazon. Tactus was recently accredited as an Original Equipment Manufacturer (‘OEM’) with Microsoft, a status awarded to only a handful of UK partners.
The company has also developed its own brand of virtual reality (VR) equipment and accessories; the Tactus Pique VR camera which allows consumers to use mobile technology to create and view VR footage as well as produce a unique VR experience with immersive video. In addition, through a joint venture Tactus holds the exclusive European licence for Flexwarm, an innovative in-built heating technology for clothing, sleeping bags and muscle warmers which are controlled via a smart device.
The global consumer electronics market remains strong and the VR and wearable tech segments are expected to be the high growth areas over the next 18 months with considerable levels of investment expected from key developers and manufacturers.
Since its launch the GMLF has supported over 25 businesses like Tactus to help them fulfil their growth aspirations. The fund continues to offer SMEs across the Greater Manchester region flexible finance packages of between £100,000 up to £750,000.
Alex Rothwell, Investment Manager at Maven, said: “Tactus is a hugely exciting business positioned at the very cutting edge of consumer technology. Through the GMLF loan, which will support the opening of the new warehouse, we are delighted to be supporting Tactus’ growth and the creation of new jobs in the Greater Manchester area. In this highly competitive and fast evolving technology market place companies must continue to develop innovative, valuable products to engage consumers and the highly experienced Tactus management team has consistently and successfully brought these products to market. The GMLF will continue to provide funding for other high potential SMEs in the Greater Manchester area which are looking to expand their products and services.”
Scott Brenchley, CEO at Tactus Group, added: “Working with Alex and the team has been a great experience and the board at Tactus are extremely excited to welcome Maven as a new partner. This injection of funds puts Tactus in a much stronger position to execute our opportunities and growth plans.”