Loewy has secured £4m of additional venture capital to fund further acquisitions. The funding announcement comes just days after Loewy’s acquisition of product design consultancy Seymour Powell (DW 13 September).
The extra investment, from private equity group Abry Partners, comes as part of a restructuring of Loewy’s financing. Abry will take over an additional £4m of investment from Loewy’s existing backer, the private equity group Veronis Suhler Stevenson, which invested £12m in Loewy last July.
The restructuring of financing will leave VSS and Abry both owning £8m apiece in the acquisitive network. Loewy is expected to announce a further acquisition imminently.