Maven backs Sleaford Building Services with £750,000 follow-on funding

Sleaford Building Services Limited (SBS), a Lincolnshire-based mechanical, electrical and construction contractor, has secured a £750,000 funding package from the Midlands Engine Investment Fund II (MEIF II) via Fund Manager for the East and South East Midlands, Maven.

Founded in 2003, SBS has built a strong reputation for high-quality mechanical, electrical and construction installations and engineering services with extensive experience in various sectors including healthcare, leisure and education across the UK. 

Maven first backed the business through the first iteration of the Midlands Engine Investment Fund in 2019, which supported the firm’s growth plans, enabled it to deliver a number of contracts, and resulted in the creation of new jobs. SBS has continued to grow steadily since then, further building its capabilities and client base across the region and beyond.

The new funding package will enable SBS to scale its delivery capability as the business continues to grow, taking on larger and more complex projects across its core sectors. 

Pictured: The International Bomber Command Centre, Lincoln.

“We’re pleased to secure this funding, which will drive organic and cross sector growth. We’ve worked with Maven on two occasions now to secure a debt finance package to support the business and in doing so, creating employment robustness and opportunities for new starters."

Barry Exton, Managing Director at Sleaford Building Services

“We’ve worked with Barry and the team at SBS for a number of years and have seen the business go from strength to strength. They have an impressive track record of delivering complex mechanical, electrical and construction projects to the highest standard. This latest funding will provide the additional headroom they need to fulfil upcoming contracts, and we’re pleased to continue our partnership through the Midlands Engine Investment Fund II."

Richard Altoft, Investment Director at Maven

“It is great to see SBS’s continued growth and success since our initial investment in 2019. Supporting ambitious, high-potential businesses in the Midlands is at the heart of what we do, and SBS is a great example. This latest investment through the Fund will enable SBS to create new jobs, build on its strong growth trajectory, and scale further. We look forward to supporting SBS in the next phase of its journey."

David Tindall, Senior Investment Manager at British Business Bank

This latest investment adds to a growing list of businesses backed by MEIF II - Debt Finance East and South East Midlands. To date, the Fund has backed a diverse range of businesses including, Lemon and Lime, a home staging business, TextureJet, a DeepTech firm, Sunset Commercial, a commercial brokerage business, Panoramix, an IP law firm, Advance Tapes, an independent adhesive tapes manufacturer, DUKE Distribution, a logistics and trackway installation provider and Vision4Sport, a sports hospitality specialist.

As Fund Manager of MEIF II - Debt Finance East and South East Midlands, Maven can provide business loans from £100,000 to £2 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is considering debt finance to support future growth please, click here.