Equine and animal bedding business relocates on back of investment
Register for free to receive latest news stories direct to your inboxRegister
An equine and animal bedding business is relocating to Prees in Shropshire after securing a £180,000 investment.
Cardboard Bedding, trading as Green Mile, secured the finance from the Midlands Engine Investment Fund (MEIF) – provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The funding will also allow the company, which was previously based in Soham and now based at Prees Industrial Estate, to install two additional production lines to meet the current demand for its equine and animal bedding products, as well as supporting job creation within the business.
Joey Kinnersley established Green Mile in 2012 and began producing cardboard horse bedding which is highly absorbent.
The product helps eliminate odours, provides warmth through insulation and is eco-friendly and 100% biodegradable within eight-12 weeks.
Kinnersley said: “We were previously unable to produce enough bedding to meet demand, but this funding will allow us to both relocate and further expand the business. I would like to thank Kerry, from The FSE Group, who supported us throughout the whole process in order to obtain the funding.”
Kerry Haughton, fund manager at The FSE Group, which manages the MEIF Debt Finance Fund, added: “We were really pleased to be able to support this growing business in furthering its expansion plans and facilitate a move back to its Midlands roots. The additional production lines will provide the opportunity for local job creation and we are looking forward to working with Joey, accompanying him on this journey.”