Candle Shack lights a flame under growth with £4.4m private equity investment

Updated: Sep 10, 2021

Candle Shack, a fast-growing ecommerce business which supplies candle-making components and contract candle manufacture for luxury international brands, has completed a £4.4 million deal with Maven Capital Partners to pursue an ambitious European expansion plan.

The Falkirk-based firm, a family-run business employing more than 100 people, operates from a 100,000 square-foot facility in West Carron, which includes a fulfilment centre, development lab and manufacturing site. Candle Shack has recorded a five-fold increase in turnover over the past three years.

The business develops and supplies high-quality components for candle-making to a customer base of more than 34,000 throughout Europe. As well as artisan candle makers, Candle Shack operates a state-of-the art contract manufacturing service, supplying candles to a range of large brands, including Fornasetti.

Maven’s investment includes £3m of funding as well as a £1.4m debt facility, which will help Candle Shack develop its sales and marketing function, expand its EU operations with a new base in the Netherlands, fund new product development and improve operational efficiency. The company is also leading the industry in developing sustainable candle components, which includes its own-brand wax blend, EcoSystem RCX.

The business also plans to create 50 jobs in the Falkirk area as part of its plans to reinforce Candle Shack’s market-leading position in Europe.

Candle Shack CEO Duncan MacLean, who set up the business with his wife Cheryl in 2010, said the investment marked a pivotal step in the company’s growth journey.

He said: “Maven’s investment in Candle Shack will fuel our next phase of growth, enabling us to better support thousands of niche home fragrance brands across Europe. The market is changing, and consumers are increasingly attracted by unique, high-quality products.

“This demand is being met by creative artisans, many of whom are Candle Shack customers. Our partnership with Maven will allow us to invest in the stock, technology and expertise that will cement our reputation as Europe’s leading candle supplies business.”

As well as the manufacturing and supply side of the business, Candle Shack also provides many customers with support, training, accreditation and testing of their candles.

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