Former JD Sports boss Peter Cowgill is investing £2.5m in a PC gaming firm that is planning major expansion.
Chillblast Group, which is based in Warrington and has a base in Bradford, has also announced a £3m investor loan facility to support its working capital needs. That means the business has now secured investor backing of £10.5m, led by Arete Capital Partners.
Chillblast builds high performance PCs, particularly for gamers. It supplies e-sports teams and games developers and has partnerships with brands including Williams F1 eSports for whom it supplies driver simulators. Chillblast, which employs more than 100 people, also supplies AI-enabled workstations to tech businesses.
The current Chillblast Ltd was founded last year to bring together Chillblast and other “legacy gaming entities” into one brand. In its accounts for the year to March 31, Chillblast reported revenues of £37.8m.
Announcing its latest investment today, the company said it has “a current revenue run rate of £50m” and is forecasting 35% growth this year.
Mr Cowgill is former executive chairman of JD Sports and has backed other high-growth businesses including Applied Nutrition and the Perfume Shop.
Peter Cowgill, non-executive chairman of Chillblast, said: “Over the years, I’ve identified the characteristics needed for success in consumer businesses. Chillblast has demonstrated many of these traits – high-quality products, a strong leadership team, and a market that’s seeing surging demand. The business has achieved an impressive first year, and I’m looking forward to helping guide the next stage of its journey.”
Scott Brenchley, CEO of Chillblast, added: “We’ve built real momentum in our first year, with strong performance across both consumer and enterprise channels. Securing this additional funding and welcoming Peter to the board sets us up for the next phase of growth. His experience and insight into scaling consumer-facing businesses will be invaluable as we continue to innovate and expand.”
The business is planning more product launches this year following recent GPU giant Nvidia’s recent launches of its 50-series graphics cards.
Don’t miss the latest news and analysis with our regular North West newsletters – sign up here for free
