In total, BGF has now invested £14m to support Better Bathrooms, while retaining a minority stake.
With showrooms nationwide, Better Bathrooms is on course to achieve sales in excess of £60m this financial year, up from £31m in 2013 when BGF first invested in the company.
With the additional investment, Better Bathrooms aim to achieve sales of £100m by 2018.
Colin Stevens founded Better Bathrooms in 2001 at the age of 22. Today, the business employs more than 400 people and sells direct to consumers via its showrooms, online and telephone mail order catalogue.
Better Bathrooms also extends its product range to the trade sector, operating a popular Trade Scheme through a loyalty points system.
Colin Stevens, CEO, commented: “These developments mark an important step for the business as we look to add further scale to the business.
"Our long opening hours of up to 10pm, 7 days a week – and leading service levels with our own fleet dedicated two-man delivery – mean that we continue to take market share from all the major bathroom retail and DIY chains.
“With additional support from BGF funding, we can work towards strengthening our mission statement – to be better on every level.”
Ben Barker, investor at BGF added: “Colin has a clear vision for the future growth of Better Bathrooms, and the team has a huge amount of energy for scaling the business. We are happy to be providing the growth capital to support their plans."
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement