Health and well-being brand, Mammoth, is set to create new jobs and develop the infrastructure needed to drive growth both at home and overseas after securing a six-figure investment from the North East Growth Capital Fund through regional fund management firm NEL Fund Managers.
Mammoth has built a reputation as an innovator in the mattress and seating market over the last decade by introducing new technologies such as Medical Grade foam and forging unique partnerships with the likes of the Chartered Society of Physiotherapy, Premier League football teams and leading universities.
Headquartered in Newcastle, Mammoth will utilise the investment to help drive sales of its recently revamped product range, including its flagship Comfort collection, and has already secured a 40% increase in retail floor placements for the key winter trading period.
The six-figure investment from the North East Growth Capital Fund Supported by the European Regional Development Fund will also enable Mammoth to recruit new personnel into roles that will be critical for the company’s future expansion.
A new Bedding Manager, Global Sales Project Manager and Customer Service Manager are set to join the firm in January and will work under new Managing Director, Mike Hobson, who joined the business in July 2023.
The business will also be investing in new warehousing for its bedding collection, as well as a new European mainland international showroom, plans for which had been delayed by bad debt suffered as the result of supply chain issues and the challenges of Covid-19.
Under the leadership of Mammoth CEO, John Tuton, and MD Mike Hobson, the next period of growth will see the brand continue to innovate and partner with experts in sleep, comfort and performance.
Mammoth Founder and CEO, John Tuton, says: 'Mammoth’s mission to get people living longer, healthier and happier lives by enabling them to sleep better and sit more comfortably has never been more relevant than it is right now.'
'There’s no doubt, through no fault of our own, we’ve been through a challenging period over the last two years and weathered some tough trading conditions, which were compounded by the unfortunate loss of suppliers, but it’s a testament to the team we have in place and the relationships we have built that we’re now in a position to secure investment and grow once again.'
Senior Portfolio Executive at NEL Fund Managers, Mark Wharton, comments: 'Having worked closely with Mammoth both prior and throughout the pandemic, I’ve seen how forward-thinking and tenacious John and his team are in their business vision and financial diligence. Over the last two years, they have experienced a period of unprecedented turmoil as a result of the pandemic that would have seen most organisations go to the wall.'
'We’re excited to see them execute their growth strategy over the coming months and years with their restructured management team and a number of key partnerships in place.'
The North East Growth Capital Fund has been designed to create around 790 jobs in more than 70 regional firms over the life of the programme and offers investments to established businesses looking to realise their growth potential.
More information:
NEL Fund Managers
www.nel.co.uk
Mammoth
mammothcomfort.com