Expansion on the cards for Kallik following Midven investment

TAMWORTH software business Kallik has received a “substantial” investment from venture capital firm Midven.

Kallik develops software which manages the labelling and packaging needs of businesses worldwide in sectors such as pharmaceuticals and cosmetics. It has been seeking investment to take it to its next level of growth.

The investment – the amount of which has not been disclosed – will allow it to build its customer base at home and abroad. Midven invested via its its Exceed Fund.

Ian Fairclough, investment manager for the fund, said: “The company’s prospects have been burgeoning, and with significant revenue already secured over the next two years, we see this as an opportunity to invest in a profitable organisation with a stable product offering.

“Its focus – of driving sales in some very defined sectors – is the right one as Kallik looks to ramp up its business development and marketing activity.

“The company continues to move forward with some significant client wins, and this investment enables management to move the organisation onto the next stage with confidence.”

Carole and Neil Gleghorn set up Kallik – whose client list includes Estee Lauder and Unilever – in 2001.

“It is wonderful that Midven has made this investment,” Carole said. “This investment will allow us to do so much on sales and marketing and further help put Kallik on the map for the sort of work we do.

“Many US firms perceive us as a small business and that may impact their decision to invest in our technology. This new investment affords us the opportunity to redress that perception and focus on a strong and sustained communications campaign that demonstrates the real value we can deliver to these global businesses.”

Mike Quinn, corporate finance specialist at accountancy firm RSM Tenon, introduced Birmingham-based Midven to Kallik.

Quinn said: “We have been working with Kallik to find a suitable investor to enable it to develop the sales and marketing side of the business.

“RSM Tenon introduced Midven, and the development capital investment it has made will allow Kallik to invest further in sales and marketing collateral and resource to drive sales and profit growth within the business.”

Quinn worked with RSM Tenon colleague Lisa Huckerby.

Tom Durrant at Gateley in Birmingham provided legal advice.