Currently listed on the ISDX, a London investment exchange, Sandal is comprised of PowerConnections, an established cash generative division, and Energenie, which is at the centre of the rapidly expanding Internet of Things market. Founded in 1996, Sandal designs, develops and manufactures consumer electronics products, seeing £3m of turnover in each of the last 3 years. Seeking to raise £500,000 on its SyndicateRoom equity crowdfunding campaign before 10 May, Sandal has already secured more than £130,900 of its goal. Funding will used to enable more rapid growth and product development.
SyndicateRoom announced that the Sandal campaign will be the first time the platform is offering investors the ability to invest via their ISA. Registered investors may learn more financial details, watch management interviews and this ISA opportunity on the campaign’s Investment Terms tab. “Alternatively, shares on offer via SyndicateRoom are newly issued shares and thus are eligible for EIS relief, for those investors who do not wish to use their ISA,” commented the campaign. “It is worth noting that shares acquired as a result of a transfer done through the ISDX Growth Market would not be eligible EIS relief and may cost more.”
Sandal’s management team is lead by CEO and owner Alan Tadd, Commercial Director Oliver Tadd, Non-Executive Director Tom Rodger and Business Development Manager Adam Smith. The lead investor for the Sandal deal is City & Merchant.
Sandal’s business is divided into two distinct product groups: PowerConnections, a long established wholesaler and reseller of a successful and patented range of converter plugs and power cables, and Energenie, which sells a range of newly developed products including energy saving products, portable charging devices and the new MiHome range of products aimed at the “Home Automation” and “Internet of Things” marketplace.
PowerConnections supplies customers with single-phase electrical connection products, in the UK and abroad. The products are manufactured in three partner factories in Asia and have global distributors for its range of patented converter plugs, according to the campaign. The company’s product portfolio consists of International Power Leads, Rewireable Plugs, Converters and Connectors which are stocked in Asia, Australia and UK. The company avers its profitability and cash generative nature, holding patents and trademark protections over many of these products.
Energenie offers eco and electrical, travel and energy saving products for homes and offices and is now targetting the Home Automation sector. Currently products are sold with several large retailers including Homebase, Maplin, Amazon, Toolstation and ASDA. The new range of MiHome home automation products aims to make the remote operation of everyday household appliances and energy monitoring more accessible to consumers owing to better affordability and simplicity of control through smartphone and tablet connectivity. The Energenie business has grown rapidly since its creation 5 years ago to a current annual turnover run rate of £1m, stated the company. The new MiHome range was awarded product awards at both the ECO Build and Grand Design exhibitions.
While Energenie officially launched its MiHome range and the NEC Birmingham Gadget Show last week, investors may view the products at further exhibitions in the coming month at Grand Designers-Excel London, Ideal Home Show Manchester and Eco Tech Show Brighton.
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