Maven Capital Partners continues to fuel growth plans of many regional businesses across the East and South East Midlands via the MEIF Debt Funds.
AIM-listed Hardide has secures a £250,000 funding package from the Midlands Engine Investment Fund East & South East Midlands Debt Finance fund, managed by Maven and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).The business intends to use the funding which it secured back in April, to continue its innovative product development and expand its business development activity.
With its UK headquarters in Bicester, Hardide is responsible for developing advanced nano-technology metal coatings, which are used to help increase the lifespan and optimise the performance of vital metal components which operate in abrasive, erosive and chemically aggressive environments.
Founded in 2000, Hardide is led by an executive management team with over 50 years of experience within engineering, metals, finance, and advanced technology sectors. Hardide’s customers include Airbus, BAE Systems, Leonardo Helicopters, EDF Energy and Royal Mail.
In 2020, the company was awarded the Queen’s Award for Enterprise: International Trade. The company also won the Queen’s Award for Outstanding Short-Term Growth in Overseas Sales.
Graham Hall, Investment Manager for Maven comments: “We are pleased to have been able to work flexibly and constructively with Hardide to shape this deal for a business listed on the AIM market. This clearly demonstrates the versatility of MEIF Debt Finance and suitability for all sizes and structures of SME.”
Philip Kirkham, CEO for Hardide PLC adds: “The opportunity to work with Maven to secure additional working capital comes at a very important time, as we further develop exciting plans in the aerospace, alternative energy, and steam and gas turbine blade sectors.”