Maven Capital Partners continues to support the growth plans of many ambitious businesses across the East and South East Midlands via the MEIF Debt Funds.
Bowers Electrical Engineering Services (BEES) have secured a £250,000 funding package via the Midlands Engine Investment Fund Debt Finance, the East & South East Midlands Debt Finance fund, and the Coronavirus Business Interruption Scheme Loan managed by Maven. BEES will be utilising this loan on new material and labour costs for two new contracts that the business have recently obtained.
BEES provide electrical engineering services via their four key services offerings: validation of decontamination equipment, design and building of specific machinery, control and automation of electrical panels, and a customer part distribution service. The business currently provides their services to a range of clients within the Medical, Life Sciences and Engineering sectors including the NHS, CIS and Miele Professional.
The business is overseen by Manging Director Chris Bowers, who has over two decades of engineering and service management experience, previously working in a senior role with ESTS Ltd whilst overseeing BEES as a sole trader, before incorporating BEES in 2013. Chris has professionally shaped and led his team to build their service range into today’s diversified offerings, and demand for these specialisms continue to grow as businesses increase automated machinery and systems investment.
The SEMLEP area is no stranger to supporting businesses within the mechanical or electrical engineering communities and BEES is a great example of a local SME receiving MEIF Debt Funding for this growing and innovative sector.
Graham Hall, Investment Manager for Maven comments: “Really great to be able to assist Chris with this important Growth Capital Loan to allow them to seize upon some great business development opportunities proactively sourced during lockdown. Many thanks also to Barclays who made the introduction upon Chris’s request, which is why MEIF is here to bridge that gap for businesses seeking out funding opportunities.”
Chris Bowers, Managing Director for Bowers Electrical Engineering Services Ltd adds: “Following this MEIF funding, we are now in a very strong working capital position, allowing us to spring forward and deliver the next level of our growth trajectory and tender for all sizes of Machine Control and Automation projects. Many thanks MEIF, Maven and Graham for your initial and ongoing support.”