The Australian Business Growth Fund (ABGF), Australia’s only dedicated growth capital fund for the SME sector, announced its 12th investment into an Australian business—Modra, a family-run advanced manufacturer renowned for its globally recognised carpet solutions based in regional Victoria.
With over 32 years in the industry, Modra has established itself at the forefront of carpet manufacturing technology.
The recent investment from ABGF will enable Modra to further its commitment to innovation, significantly expand its production capabilities, and nearly double its workforce, ABGF said in a news release.
Modra’s global success is attributed to its pioneering spirit and technological advancements, including CreelMT—an all-in-one automated machine that boosts carpet production efficiency by up to 83 per cent.
Under the leadership of Founder and CEO Tim Modra, the company has expanded from a small local operation to serving over 200 clients across 35 countries.
“Our success to date has been driven by our relentless focus on innovation and addressing the real challenges faced by our customers,” said Modra.
He continued, “[W]ith ABGF’s support, we are poised to elevate our innovation and unlock even greater potential in the years ahead,”.
The investment comes in response to Modra’s impressive revenue growth, averaging over 50 per cent per annum over the past three years.
Global demand for Modra’s products has surpassed its supply capabilities, underscoring the company’s significant growth potential.
ABGF’s investment was secured not only for Modra’s strong market performance but also for its commitment to Australian jobs and manufacturing excellence.
“ABGF stood out as the ideal partner for us, not just because of their investment but also due to the strategic expertise and networks they bring,” Modra noted.
“Their support will empower us to build on our leadership in the soft flooring industry and drive sustainable growth for the future.”
Modra’s products are leading advancements in the carpet manufacturing industry, including CreelMT, which helps reduce yarn wastage by up to 80 per cent compared to traditional methods, and offers a return on investment in less than two years.
Additionally, Modra’s ‘Kibby’ and ‘Mtuft’ products are revolutionizing carpet sampling, allowing manufacturers to efficiently produce small quantities of sample carpets for testing new designs.
ABGF Investment Manager Alexandros Collivas highlighted the strategic fit of the investment.
He stated, “Modra represents an ideal investment for ABGF. The company has solidified its position as a global leader in carpet manufacturing technology, supported by strong intellectual property and a loyal customer base.”
“We see tremendous growth potential as Modra continues to enable manufacturers worldwide to embrace automation and drive sustainability,” Collivas said.
