PE firm lends over £18m in a single year
Maven, the private equity firm which manages two debt funds on behalf of the Midlands Engine Investment Fund (MEIF) across the West, East and South East Midlands, says it lent over £18 million across the Midlands last year, supporting the creation of more than 144 jobs.
Appointed by the British Business Bank in 2017, Maven works with Local Enterprise Partnerships, Local Authorities and Growth Hubs across the Midlands to help companies drive their expansion plans.
Recent transactions include the backing of Lincolnshire-based house and garden plant nursery Opperman Plants and Haleseowen-based vacuum furnace designer Vacuum Furnace Engineering. The finance will enable both companies to pursue their growth plans and create jobs across the region.
Jonathan Lowe, investment director for MEIF East and South East Midlands, said: “The Midlands has historically been a key driver for UK economic growth and a hotbed for growing SME businesses. Supporting such a large number of local companies in just one year demonstrates the need for this type of debt finance, and the breadth of established, cash generative small businesses that currently exist, ready to take on finance to grow their business.”
Steve Lewis, investment director for MEIF West Midlands, added: “Maven MEIF Debt Finance’s positive impact on businesses across the Midlands is already evident, fuelling the growth of ambitious SMEs across a wide range of industries, and supporting a significant number of jobs. Our local investment team works closely with the businesses we support to provide flexible funding to suit a wide range of business circumstances. We look forward to working with more businesses to help them achieve their growth plans.”
