Funding deal supports manufacturer’s succession plans

Garden buildings manufacturer Ornate Gardens has secured a £1.75m loan to seed the next phase of its growth.

Two senior employees have also taken a stake in the Coleshill-based business as part of its long-term strategy.

Ornate Gardens was founded 30 years ago by Wayne Farmer, who remains managing director and a major shareholder.

It originally manufactured Victorian-style cast-iron lamps and water features before moving into the design and installation of high-end garden pods.

Farmer said: “We have a lot of exciting plans in the pipeline which will allow us to grow the company and develop some new and exciting products.”

As part of the transaction Ornate Gardens’ sales director Richard Hill and operations director Mike Hales have invested in the business.

A long-term unsecured loan has been facilitated by Caple and a working capital facility provided by Barclays Bank.

Lead advisor Jenny Moore from Dains Corporate Finance added: “The growth of the company has been built on a reputation for delivering high quality products to their customers and Wayne and his team are now in a great position to push on and grow the business further.

“The transaction assists with Wayne’s succession plans and brings Richard and Mike onto the board alongside Wayne so they can continue the journey together as shareholders.”