Adhesive tape manufacturer secures six-figure funding for growth plans

Advance Tapes, a manufacturer specialising in adhesive tapes, has taken a step in its growth journey by securing an investment from the Midlands Engine Investment Fund II.

The independent manufacturer has obtained a £500,000 debt investment facilitated by Maven Capital Partners, the appointed fund manager for the East and South East Midlands.

Founded in Leicester 60 years ago, Advance Tapes continues to grow both nationally in the UK and internationally across parts of Europe.

The latest funding from the Midlands Engine Investment Fund II will provide additional working capital, enable expansion into new sectors and support the growth of its branded and white-label specialist adhesive tapes.

It will also create new jobs at its manufacturing facilities in Leicester.

Kym Ellington, finance director at Advance Tapes, said: “Myself and my fellow directors at Advance Tapes are delighted to have gained repeated investment from the British Business Bank’s Midlands Engine Investment Fund.  I would like to thank Sajid Sabir and the rest of the team at Maven for their hard work and first-class support during this process. The realisation of this working capital will allow us to continue to embed the brand both at home and internationally and provide a platform for growth.”

Maven previously supported Advance Tapes in 2019, providing £600,000 through the first Midlands Engine Investment Fund (MEIF I), which helped the company expand its client base and invest in product development.

David Tindall, senior investment manager, at British Business Bank, said: “Seeing businesses who were successfully supported during the first fund return for further funding from the Midlands Engine Investment Fund II is a testament to the strength of finance access and business investment in the Midlands. It illustrates perfectly the impact of this latest fund and how access to finance can help businesses at any stage.”