At a glance:
- £3m trade finance facility secured by Maeving to expand production in Coventry and create 13 jobs.
- 250,000 sq ft taken by Relay Tech in Walsall to expand its delivery network.
- £800,000 invested by Sarginsons in new manufacturing technology, becoming the first UK foundry to adopt it.
- £13.5m banking package secured by Coventry-based NCMT to support modernisation, innovation and larger contracts.
- Multi-million-pound investment secured by Coventry-based LORILLION, with SubSea Craft taking a 40% stake.
New to the West Midlands
ClearPath AI launches in Birmingham with £1m backing
Technology entrepreneur Rudi Kesic launched ClearPath AI in Birmingham with £1 million of pre-seed backing. The AI-native operating system is aimed at legal and professional services. The business already has a team of more than 20 people and plans to add a further 20+ roles across the UK.
Harley Haddow opens its eighth UK office in Birmingham
Engineering consultancy Harley Haddow has opened a new office at Runway East in Birmingham, its eighth UK location. The 11-person team gives the business a permanent presence in the city as it continues to expand its UK network.
Relay Tech takes 250,000 sq ft in Walsall
Logistics business Relay Tech has taken a 250,000 sq ft unit at SPARK Walsall to support the expansion of its delivery network.
Lock Stock expands into West Bromwich and Willenhall
Lock Stock Self Storage has acquired sites in West Bromwich and Willenhall as part of the largest acquisition in its history. The company plans to invest in and expand the acquired sites, giving it a new operating footprint in the West Midlands.
Investing and expanding here
Maeving secures £3m to expand production in Coventry
Coventry electric motorbike manufacturer Maeving has secured a £3 million UKEF-backed trade finance facility from HSBC UK to increase production capacity and support growing US and European demand. The expansion is expected to create 13 new jobs in Coventry.
Sarginsons invests £800,000 in UK-first foundry technology
Coventry foundry Sarginsons has invested £800,000 in inorganic 3D sand-core printing. The investment strengthens its ability to produce complex aluminium castings quicker and supports continued innovation from its Coventry operation.
Attic Brew Co secures its Birmingham production base
Backed by a seven-figure finance package, Attic Brew Co has acquired the 56,000 sq ft Stirchley site that houses its brewery and taproom. The Birmingham business has increased trade sales by 60% over the past year and continues to invest in its brewing, canning, kegging and storage capacity.
Scaling from the West Midlands
NCMT secures £13.5m banking package
Coventry precision engineering specialist NCMT has secured £13.5 million of banking facilities from NatWest to support its management buyout and provide financial headroom for modernisation, innovation and larger contracts. The package gives the established Coventry engineering business additional capacity to pursue its next phase of growth.
Multi-million-pound investment backs LORILLION
SubSea Craft has made a multi-million-pound strategic investment for a 40% stake in Coventry-based battery engineering business LORILLION. The deal provides new backing for the company to develop specialist battery-management and engineering capability, whilst expanding the team to 70+ to support the new production facility in the Midlands.
Wolverhampton-based BAX Construction secured a six-figure growth funding
Wolverhampton-based BAX Construction has secured a six-figure multi-lender funding package to take on larger projects. The finance gives the business additional capacity to pursue larger contracts.
August’s activity shows business confidence in several forms across the region: new West Midlands operations, manufacturers investing in production and technology, and locally based businesses securing finance to scale. Particularly notable is the concentration of advanced manufacturing, battery and future mobility activity in Coventry, alongside new locations and expansions across Birmingham, Sandwell, Walsall and Wolverhampton.
Considering a West Midlands location for your next investment or expansion? Speak to our expert team.