Derbyshire-based insulation manufacturer, YBS Insulation has received a £250,000 loan to progress its growth plans.
YBS will use the funding, from the Midlands Engine Investment Fund East & South East Midlands Debt Finance Fund, managed by Maven Capital Partners, to invest in new production machinery to increase its output capacity, as well as strengthening its sales and marketing function.
The deal will help YBS continue to generate new business opportunities by enhancing its digital presence, improving its e-platform and growing its social media presence.
YBS managing director Simon Sharkey, says: “This marks another exciting milestone for YBS as we look to continuously improve our customer offering though new product developments and improved efficiency. We have significantly advanced the business over recent years, but this will provide the investment to really accelerate our plans. Jonathan and Maven have been instrumental in securing this investment and we at YBS are looking forward to building on this relationship.’’
Jonathan Lowe, Investment Director for Mavenadds: “We are delighted to support Simon and his team with this MEIF loan as YBS look to develop to the next stage. Increasing numbers of property owners in the UK and overseas are seeing the benefits of investing in energy efficient insulation and YBS is well placed to expand further at its site in North Derbyshire.”
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.