Pitalia Capital supports the ice bath market leader Brass Monkey with seven-figure expansion investments
Summary
Leading UK ice bath brand, Yorkshire based Brass Monkey has sold a significant minority stake to a private family office to fund rapid expansion.Pitalia Capital, the Pitalia familys Bolton-based private practice focused on investing in the wellness and health sectors, invested in the company after founder Anil Pitalia himself converted to Brass Monkey Ice Baths. We are excited to have an investment partner who will bring new perspectives and broaden our horizons for our next phase of growth, said Founder Dan Bosomworth.With Pitalia on board, we can continue to expand through new production facilities, larger teams and new markets, and double our R&D. Our mission to help the world get its cold out safely feels more achievable than ever.John Davies, Managing Partner at Pitalia Capital, commented: Brass Monkey has a major advantage in a fast growing sector, with some compelling intellectual property rights in terms of technology and a great established brand known for its design and quality. The Middle East and North American markets offer tremendous opportunities for the company to continue its rapid growth and we were keen to be involved in the next phase of this remarkable phase of expansion.The global resurgence of cold water immersion and therapy has gained momentum in recent years, led by pioneers like extreme athlete Wim Hof, and is believed to have several physical and mental benefits, including an enhanced immune system, an enhanced mood and an improved metabolism.Clarions Sarah Harrison, who advised Brass Monkeys management on the transaction, added: This is a remarkable success story in Yorkshire. Pitalias investment certainly fits their ethos and together they will have the resources to meet existing demand and take the brand overseas and into the commercial spa and gym markets.Other advisors included Hill Dickinsons Jonathan Gillow and Fairhurst Accountants Patrick Morris, who advised on tax matters.