December 2024 update
As we say goodbye to 2024, here is our latest roundup of business growth stories and investments.
Note: The FDC offices will be closed from Wednesday 25th December and reopen on Thursday 2nd January 2025. Any enquiries during this time will be answered when the team return in the new year.
Car repair duo secure growth funding from MEIF II
??Location: Warwick
?? Sector: Automotive
??Investment: ￡375,000
Evolve Automotive Repair Centre, a rapidly expanding vehicle repair business, has secured a ￡375,000 business loan from the Midlands Engine Investment Fund II to help finance its further growth after taking on a fourth site.
Investment to help fast-growing F1 manufacturer to race ahead
??Location: Leamington Spa
?? Sector: Automotive manufacturing
??Investment: ￡150,000
MV Composites, a start-up that manufactures components for Formula One has secured a loan from the Midlands Engine Investment Fund II to enable them to complete the fit-out of their new premises. Over the past two years their team has risen from three to 17 and has seen a ten-fold rise in turnover.
MBO completed at marine services firm
??Location: Yorkshire
?? Sector: Marine services
ShipVet Services, a company that carries out safety, technical and environmental risk assessments for companies chartering vessels, has undergone a management buyout, backed by FDC.
The deal gives control of ShipVet Services to a team led by James Stairmand, who has more than 20 years' experience in the commodities sector and who founded and sold the digital marketplace OnlineFuels.?
Stairmand will be joined by Alan Duggan, who has held C-suite roles within private equity-backed technology companies.