Psychological services firm targets growth after new funding
ONE of the UK’s leading independent providers of psychological services is planning expansion after securing an investment of £250,000 from Midven’s Exceed Fund.
Clinical Psychology Associates Ltd (CPA), based at Keele Science Park, is targeting contract wins in the children’s homes and educational services sectors.
Ian Fairclough, investment manager at Midven, said: “Since its establishment in 2004, CPA has delivered exceptionally high-quality services to health and social care, corporate clients, legal firms and individual patients. CPA has experienced good growth and as a result of continued client satisfaction, cannot see any foreseeable reasons for this to stop.”
Joint directors, Dr Lloyd Humphreys and Dr Jonathan Ward, founded CPA in 2004 and have built it into one of the UK’s largest providers of clinical psychology services, with operations in London, Manchester, Bristol and Birmingham. Its head office is at Keele.
Dr Humphreys said the investment had come at an exciting time for CPA.
“CPA is now recognised as a leading organisation in the psychological services field,” he said.
“In the coming years, our continued focus will be to establish ourselves as exclusive third party suppliers to organisations that cannot readily access psychological expertise from statutory providers, or who require a nationwide service.
“Midven’s backing will not only help finance the growth of the company but it will provide us with working capital to enable us to win additional contracts in children’s homes and educational services.”
Midven is a privately owned commercial fund manager with a successful track record of investing in SMEs in the Midlands. Midven manages five funds representing £61m under management. The funds have invested in a wide variety of sectors, including software, biotechnology, healthcare, engineering, manufacturing and distribution.
The £18.4m Exceed Fund was established in December 2009 to invest in high growth businesses in the region. It became operational in March 2010 when LDC became an investor. The Exceed Fund can invest up to £750,000 in a range of sectors to support expansion and development. Managed By Midven, its investors include LDC, Advantage West Midlands and the European Regional Development Fund.
