Published: Jun 12, 2020
Focus: MEIF Maven Debt Finance
Leading behaviour change marketing agency, WAA Chosen has secured a £450,000 funding boost from the Midlands Engine Investment Fund.
The funding which was delivered by MEIF Maven Capital Partners, has been used by WAA Chosen to develop its Sutton Coldfield headquarters. The firm has developed a new creative space which spans four previously separate office buildings, allowing the company to hold events, broadcasts, training, insight sessions and even issue industry-specific, professional qualifications. The finance has also supported major upgrades to the firm’s IT infrastructure.
WAA Chosen is an integrated marketing agency, providing contracted services to a wide portfolio of national and international clients across three key sector-specific areas: Stir (food, drink and leisure), Hi-Vis (building, construction and home interest) and Open Road (automotive and transport).
Founded in 1986, the business has secured strong growth over the last 30 years and now works with international clients such as Diageo, VW Group, Britvic, Saint Gobain and Kelloggs. WAA Chosen achieves over 25 per cent of its income from outside of the UK. With its Sutton Coldfield facility located just 30 minutes from Birmingham International Airport, the firm will use its new creative space to host clients and suppliers from across the globe.
Andy Wilson, Chief Executive of WAA, said, “We are thrilled to have the backing and support of the MEIF and Maven. After drawing in some of Europe’s biggest businesses with our specialist knowledge of their sectors, we are also being approached by the very best talent in the industry. We wanted to create an environment that truly reflected our status and future-proofed the agenda for the growth ahead. This funding allowed us to complete several projects in tandem meaning we will see the benefits much faster.”
Andy Povey, Investment Manager at Maven Capital Partners, said, “WAA Chosen is an established business with over 30 years in the industry, backed by a dedicated management team that is focused on driving the business forward. We will work with the team to support their ambitious development plans as they embark on a programme of growth.”
Ryan Cartwright, Senior Manager at the British Business Bank said: “We are proud to support Midlands’ businesses with their growth ambitions, so it’s great to see Greater Birmingham-based WAA take advantage of the MEIF. This funding is an example of another business continuing to innovate and broaden its offering thanks to the Fund.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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