Online mobile accessories retailer employs acquisition strategy, targeting businesses in the retail and distribution sectors
Mobile Fun is seeking suitable acquisition targets across retail and distribution as it looks to further accelerate its growth plans.
The announcement comes after Mobile Fun said earlier this month it would launch a mobile accessories distribution business early next year. It also revealed to Mobile News it is looking to increase the number of countries it has a presence in to 50 before the end of the financial year.
It is targeting companies including mobile accessories retailers, larger eBay/Amazon businesses, mobile phone retailers, online retailers of technology products or small distributors of mobile accessories.
It is considering businesses both in the UK and internationally, with a turnover of between £500,000 and £10 million with profits of £100,000 to £750,000.
The acquisitions will be financed either from retained reserves, through the support of its existing investors or through Mobile Fun’s growth capital partners.
The company said it regards any potential retail or online business acquisition as an opportunity to gain new routes to market, while a distributor of mobile accessories, technology or telecoms products may support its recently announced distribution business.
Mobile Fun managing director Mohammed Hussain (pictured) said: “Plans for organic growth are already underway, including our investment in a new distribution business, and now we are looking to accelerate company growth through acquisition. I receive several speculative approaches on LinkedIn every few months from businesses looking for a buyer. As we now have a formal acquisition process in place, we are expecting more businesses to get in touch.”