Investment stories

The Real Lancashire Black Pudding Company manufactures and supplies the world-famous black pudding delicacy, using traditional methods and a closely-guarded recipe which dates back to 1879.

Andrew Holt, proprietor of the company since 1993, identified an opportunity in the market to produce black puddings on a wholesale basis, initially mainly to wholesale butchers and, more recently, to the foodservice sector and retail multiples.

Andrew approached EV at a time when the business had outgrown its premises following the increase in demand. He was manufacturing and trading at two sites, and did not have the space to develop the product range and packaging. EV provided funding to support the relocation and associated costs alongside the company's bank and an equity investment from the proprietor, meeting the cost of refurbishment, machinery and equipment purchases and working capital requirements.

Glamorous Travel Limited, founded by Chinese and UK national Yan Zhang, is an inbound tour operator that specialises in providing tailor-made special-interest tour packages for Chinese nationals visiting Britain and Continental Europe.

Yan approached EV with her business plan, which set out her ambition to organise UK and European tours for Chinese nationals, in specific areas. Her field research in China suggested substantial un-met demand and limited competition in these markets, and increased interest in these areas amongst growing numbers of affluent Chinese people.

Yan was invited to meet with the EV investment team to talk through her personal aspirations for her business ideas, setting out her short to medium-term funding requirements. The EV team was very impressed with Yan’s entrepreneurial approach and her commercial ability, and was convinced by Yan of the business opportunity in the market.

Following negotiations with Yan and her business mentor, the all-important equity funding package was provided by the North West Fund for Venture Capital, to meet the company’s costs during its first year of trading.

Rock Networks Limited was established in 2011 by Stewart DeRoma (Managing Director), Dan Cunliffe (Technical Director) and Julian Jackson (Chairman). The team had worked together for a previous venture-backed business and, having played supporting roles in building two businesses through to successful exits, decided the time was right to take centre-stage and build a business of their own.

The company is a voice and data specialist, providing expert advice for companies looking to access the latest technology. It delivers everything a customer needs to work in an efficient and effective way from a single supplier and with one point of contact.

After a direct approach, the investment team met with the company directors and was impressed with their track records in building successful businesses and their experience in the industry. EV was able to put together a funding package to support the company's start-up costs to enable it to establish itself with the resources to meet all the unified IT and communication needs of its customers.

Edge Public Solutions was founded in 2010 by Managing Director, Jim Aspin, alongside a number of colleagues who had previously worked together for a venture-backed business and now wanted to run their own operation.

Edge Public Solutions works across the public sector offering sustainable transformation at a time when the public sector is being financially challenged like never before. Edge works with existing management teams to identify and deliver efficiencies without affecting the quality of service, whilst putting its fees at risk for non-delivery. In a political climate of additional scrutiny surrounding the use of external expertise, this is a hugely powerful proposition.

The investment from The North West Fund for Venture Capital enabled the company to build on a successful first year of trading, during which it was engaged by a number of local authorities across the UK as a partner in their strategic change management plans.

The Real Lancashire Black Pudding Company manufactures and supplies a range of specialist puddings, using traditional methods and a closely guarded recipe which dates back to 1879.

Andrew Holt, proprietor of The Real Lancashire Black Pudding Company since 1993, identified an opportunity in the market to produce black puddings on a wholesale basis, initially supplying mainly wholesale butchers and, more recently, the food sector and multiple retailers.

The company now manufactures and supplies specialist black, white and vegetarian puddings, using traditional methods and a closely guarded recipe which dates back to 1879.

The puddings have won many major awards, including The Best Black Pudding in Great Britain, as well as numerous European awards year after year in France, Belgium and The Netherlands. The product range has featured on Rick Stein’s BBC series, Food Heroes and is stocked by a number of national supermarkets as well as London’s exclusive Fortnum & Mason.

Andrew approached EV at a time when the business had outgrown its premises as a result of an increase in market demand, and was manufacturing and trading at two sites, and simply did not have the space to develop its product range and packaging. EV discussed with Andrew the possibility of providing funding to support the relocation and associated costs of providing an investment, and EV was able to arrange a loan, on behalf of its client, Rosebud, and alongside the company’s bank and proprietor’s contributions, which supported the cost of refurbishment, machinery & equipment purchases and working capital requirements.

EV Small Firms is able to consider businesses at all stages of their development from start-ups through to expansion finance to management buy-out opportunities.

Founded in 1994 by husband and wife team Duncan and Anne Paddock, Allied Pipefreezing Services began life as a pipe repairs business operating out of a back room in the couple’s family home. They quickly saw the benefits of pipefreezing – a way to isolate a pipeline to allow repairs or replacements to be fitted with minimal disruption to the rest of the system.

The business now employs 12 from its base in Burnley, providing specialised professional services to a wide range of clients including oil rigs, hospitals, construction, utility providers, schools, commercial and industrial enterprises, many being repeat customers who have used the services since the company’s inception.

However, the growth potential of the business was being limited by the equipment that restricts its capabilities to piping with a maximum diameter of six inches. Assigments for larger pipework had to be turned away or subcontracted to competitors, which reduced profitability.

The Rosebud investment has helped the directors to fulfil their plans to invest in specialist equipment with the capability to handle pipes up to 16 inches in diameter, enabling the company to take on larger and more profitable contracts and create additional skilled jobs. The Rosebud Fund support allowed the company to leverage additional funding from other sources, to cover the cost of the equipment and additional working capital requirements.

When a shortage of dentists in Accrington led to a waiting list of thousands of local residents, the authorities invited tenders to deliver dental care services to the town.

Two experienced dentists who ran their own practices in locations nearby recognised the business opportunity and joined forces to submit a tender. Craig Farrell of Barrowford Dental Practice, and Stefanos Thomaidis of Diamond Smiles Dental Care in Barnoldswick won the contract to deliver services in Accrington.

They required a significant investment to cover the cost of purchasing the premises, dental equipment and working capital. The Rosebud investment has helped them to set up and establish the new practice, which opened in August 2011.

The Rosebud backing is allowing the partners to fulfil their business goals and has provided Accrington with a valuable new resource which is helping to meet the healthcare needs of local residents.

Founded by Paul Kelly in 1990, this family business manufactures tile adhesives and associated products for retail and wholesale customers throughout the UK. It places a high priority on customer relationships and provides a reliable and timely service, delivering direct to customers’ premises or contract sites within 48 hours of them placing an order.

Tilemaster was operating from an industrial ‘shed’ in Whittle-le-Woods but, with trading volumes having doubled between 2007 and 2011, the premises had become increasingly cramped and inefficient to the extent that the company was having to turn away bulk contracts.

The Rosebud investment has helped support a move to new premises in Leyland. At the same time the company has taken the opportunity to upgrade its equipment to allow manufacturing, mixing, weighing and packing to be carried out in sealed units, which has minimised seepage and virtually eliminated waste.

The move has resulted in greater efficiency, an improved working environment and is allowing Tilemaster to take advantage of growth opportunities.

This award-winning architectural practice, based in Preston, specialises in residential developments for both national housebuilders and local architects and is at the forefront of urban design and masterplanning.

The variety of projects undertaken covers everything from new-build developments in Manchester city centre to listed building conversions, eco-friendly accommodation in the National Parks and a £12m extension to the Tickled Trout Hotel in Preston.

MCK’s four executive directors – Andrew Kirkham, Peter Miller, Stephen Kay and Martin Wilson – all have extensive experience. A Rosebud loan is helping them to pursue their plans for growth and to create new, high quality jobs by providing them with the support they needed to take on larger, more profitable contracts.

Envirotek Solutions was established by Edward Robertson and Paul Leech to produce and install environmentally friendly lighting and own-brand security products. Both men had previously held senior management positions at major electrical wholesale chains.

The Rosebud Fund has helped them to finance office and warehouse facilities and to provide working capital to fund larger contracts. The investment will enable Envirotek Solutions to create six new jobs at a time when there is increasing pressure for businesses and individuals to reduce their energy costs and carbon footprint.

The Rosebud investment is in addition to the directors’ investment and has helped to leverage in additional funding in the shape of a loan from a big four bank.

After 11 years within the IT industry, Mark Hope set up his own business, Stonehouse Logic, in 1999 to provide integrated creative digital solutions to small and medium-sized companies.

The company employs 16 at its base in Clayton-le-Moors and Mark is planning to expand by setting up a network of sales and relationship managers throughout the UK. The company will initially target the North West, before reaching across the Pennines to Leeds and Sheffield and then moving southwards.

The expansion, which is expected to create an additional eight jobs, is being carried out with the support of the Rosebud Fund as part of a larger funding package.

Process Instruments (UK) Ltd was set in 1998 to design, manufacture and distribute instrumentation to the water industry. It went on to develop its own product range and win a reputation for technological innovation.

The company’s products use sensors to measure the chemical content of water and then control the processes to regulate the content. Founders Mike Riding and Jonathan Cook have recently been working to upgrade the electronics platform in its existing products – CRIUS - as well as developing two new platforms, CRONOS and CRATOS. They want to maximise the sales of the new products and also bring the manufacture of the key sensors in-house to enhance margins.

To achieve their goals, they needed to recruit additional skilled employees to support the growth in sales. The Rosebud investment was part of a sizeable finance package.