University friends Gregor Lawson, 35, and brothers Fraser and Ali Smeaton, 34 and 32 respectively, gave up their day jobs to sell all-in-one spandex suits called Morphsuits after they stumbled across the idea at a fancy dress party. Founded four years ago, the company now sells more than 200 styles for every occasion, from Hallowe’en to stag parties. Three years ago it signed a deal to supply Party City, a US chain with more than 1,000 fancy dress stores, and Morphsuits now generates the majority of its £11m sales overseas. Business Growth Fund invested £4.2m last year for a minority stake.
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