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IW Capital invests GBP2 million in Eos Leisure

Mayfair-based alternative finance house IW Capital has invested GBP2 million in Eos Leisure, which manufactures and sells its own branded eliquid products (Vapemate, Soda Steam, Directors Cut) into the UK vaping market and provides manufacturing and scientific testing services for other suppliers in vaping and other markets.

The EIS qualifying investment of GBP2 million will be used to support the company’s growth, with a focus on building sales and marketing resources, continuing scientific accreditation work and product development. 
 
In a regulated industry, Eos Leisure has made substantial capital investments in plant & equipment to build fully compliant, high capacity facilities. Within this fast-growing market, the benefit of vaping products is endorsed by a number of health organisations who support the development of safer alternatives to smoking. The UK market is second only to the US, with an estimated three million vapers – contributing to an E-cigarette market that is currently estimated to be worth circa GBP1.3 billion.
 
The business plan post-investment aims to drive a continued development of own-brand online sales and direct sales to grocery stores, as well as building broader revenue streams, derived from growth in the provision of services to the market (production and testing).
 
Luke Davis, CEO and Founder of IW Capital, says: “We are thrilled to announce the EIS qualifying investment of GBP2 million in Eos Leisure. This is a rapidly growing industry and we are pleased to support the team’s plans to grow the business.”
 
Simon Manthorpe, CEO of Eos Leisure Group, says: “This investment marks a significant milestone in Eos Leisure’s growth to date, signifying not only the scale of the market, but our role in this wider context. We’re keen to ensure that the new investment manifests into some truly exciting developments.”  

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