Controlled environment specialist lands £2.4m funding package
Warwickshire-based Indoor Climate Systems has landed £2.4m in refinance and working capital from Leicestershire based funder ThinCats.
The Indoor Climate Systems (ICS) brand has been trading since 1992 from Lapworth and specialises in the provision of building services to both the commercial and industrial sectors.
ICS is one of the leading providers of mechanical services to the commercial office fit out industry servicing the needs of fit out contractors, primarily across the UK with a large presence in London and the south.
The areas of expertise include providing a one stop design and build of HVAC systems by way of ductwork and pipework, heating, ventilation, and air-conditioning, BMS systems and installation services.
The business was introduced to funder ThinCats by Richard Rigg at Jerroms Mortgage and Finance , part of the Jerroms Group, specialist business and financial advisers based on Blythe Valley Park in Solihull.
The transaction was also supported by director Lucas Markou and manager Arthur Bibbey of Jerroms Accountants and Business Advisers.
Steve Blundell, CEO, ICS: “Whilst the past year has been difficult for everyone, the fit-out market has remained resolutely robust, and we continue our plans to keep growing organically and by acquisition, whilst continually developing the business to better serve our clients. Access to the right kind of funding is so important for companies like ours – not all funders are able to understand different business models, and we thank Jerroms and ThinCats for their support. The service provided by the whole team made this transaction simple to achieve allowing the management to concentrate on running the operation.”
Richard Rigg said: “We’re delighted that ICS has successfully secured funding for this next step in their business venture. The smoothly running of the process is testament to the great collaborative efforts of all parties involved, showcasing what can be achieved with high quality service and professionalism.”
Chris Webb, director, regional business development, ThinCats, added: “It has been a pleasure to work with the team at ICS, and to be allowed access to the inner workings of the business, and the thinking behind their strategic plans. We look forward to seeing them fulfil their goals and thank Richard at Jerroms for his commitment in helping to deliver this funding package.”