International commercial law firm Hill Dickinson has advised PHD Equity Partners on its investment in Nottinghamshire-based supplier of arts materials, Teaching Art Limited.

Teaching Art has received a £4m investment from PHD Equity Partners and Praetura Commercial Finance to fund its expansion.

Teaching Art, which is behind arts community SAA, supplies a range of paints, inks and other products from its premises in Newark and Salford. It also sells art and craft materials to the public through its Artifolk and SAA websites and supplies retailers including Hobbycraft and Ryman via its trade company Artcoe.

Andy Dodd and Craig Richardson led the deal for PHD Equity Partners. Andy Dodd said: “Arts and crafts is a fast-growing market, driven in part by the general increase in leisure time for everyone, but particularly the “empty-nesters” and the newly retired. Teaching Art is well established business with an enthusiastic and loyal customer base and a highly efficient distribution network.”

Craig Richardson added: “We see huge potential to increase engagement with SAA members, develop new products and services and expand sales in Europe and beyond. We look forward to working with the management team as the company enters this exciting new stage in its growth.”

Ian Riggs and Sean Lightfoot from Hill Dickinson’s corporate team advised PHD Equity Partners on the deal. Alasdair Mackinnon of Hill Dickinson’s Manchester banking team also advised PHD on the debt funding provided by Praetura Commercial Finance.

Commenting on the deal, Ian Riggs said: “We are delighted to have acted on this transaction and it has been a pleasure to work with PHD again. This investment comes at an exciting time for Teaching Art as it looks to expand its operations and position in the marketplace. We wish them both well for the future”.

The company now employs more than 60 staff and is run by the founder’s son Richard Hope-Hawkins, and finance director Jean Ellison, who will be staying on to help PHD implement its growth strategy for Teaching Art.