The latest deal in the East Midlands for the Midlands Engine Investment Fund II is a £250,000 debt investment in specialist air compressor installation business CSEM Technologies, via appointed fund manager Maven Capital Partners.
CSEM Technologies provides installation, servicing, and maintenance of air compressors for a wide range of businesses, including well-known brands such as Howdens, Pukka Pies, and Weleda UK, as well as local councils and hospitals. The company will use the funding to strengthen its workforce by hiring additional skilled engineers and upgrading its operational infrastructure, and to target new sectors for growth.
Andy Crone, Managing Director, CSEM Technologies said: “We were looking for ways to level up the business in terms of our offering, skillset and infrastructure, and to do so we realised that external finance would be needed. The funding from the Midlands Engine Investment Fund II has allowed us to create jobs, strengthen our core offering, and to start looking ahead at the new sectors we’re keen to target. 2025 is already looking to be an exciting year for us at CSEM Technologies.”
Jody Tableporter, Director of Nations & Regions Investment Funds at the British Business Bank, said: “Celebrating more than 100 deals for the Midlands Engine Investment Fund II almost one year after its launch marks a significant milestone for the fund and demonstrates the importance of access to small business finance. With more than £27m invested already and a further £10m unlocked in private sector funding, the appetite here in the Midlands for doing business is strong. The British Business Bank is here to support businesses looking to grow and scale, across the whole of the Midlands, and we look forward to continuing this important work.”
Other investments by the Midlands Engine Investment Fund II over the last year span digital, tech, healthcare, automotive, manufacturing and lifestyle.
The fund is part of the government-backed British Business Bank's £1.6bn suite of Nations and Regions Investment Funds (NRIF) which aim to boost the strength of the UK’s SME sector and long-term economic growth. The Midlands Engine Investment Fund II offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million, and works with five accredited fund manager partners.
The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The fund is increasing the supply and diversity of early-stage finance for smaller businesses across the whole of the Midlands, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.