A company that designs and builds industrial facilities for major food, pharmaceutical and defence manufacturers has raised £5m to boost growth and establish itself as a leader in its field.
Ambrey Baker, which manages projects throughout the UK and Ireland from its base in Lincolnshire, has secured funding from the Midlands Engine Investment Fund II, through fund manager Mercia Ventures.
The company specialises in projects for regulated industries such as food and drink manufacturing, cold storage, chemicals and defence, and offers a full range of services from feasibility studies, design and build to refurbishment, decommissioning and relocation.
Ambrey Baker serves customers including Samworth Brothers, 2 Sisters Food Group, Warburton’s and Ginsters, to name a few, and employs around 70 permanent staff.
The company has completed more than 200 projects in the past two years, most recently delivering a production hub in Telford for natural pet food company Different Dog, which secured £1.5m in funding from MEIF II earlier this year, and converting a warehouse in Leicester into a hi-tech food production plant for Samworth Brothers.
Ambrey Baker was founded in 1988 by Reg Baker, who now runs it with his fellow director Paul Waldeck. The company, which is based in Sleaford, has more than doubled its revenue in the past three years and is on track for a further 50% increase in the current financial year. The funding will enable them to expand the team and scale the business.
Reg Baker, founder and Director, said: “After almost 40 years in business, we are entering an important new phase in the company’s development. The partnership with Mercia Ventures and the Midlands Engine Investment Fund II will allow us to strengthen our position and pursue our goal to become the ‘go to’ company for capital projects across complex regulated industries.”
Hannah Tapsell-Chapman of Mercia Ventures added: “Ambrey Baker has a proven track record for delivering projects in sensitive environments with minimal disruption. In the past few years, Reg and Paul have transformed their sales and marketing operation and taken the business from strength to strength. The investment will enable them to continue their growth and establish Ambrey Baker as one of the leading independents of its type in the UK.”
David Tindall, Senior Investment Manager at the British Business Bank, said: “Ambrey Baker has built a strong reputation over many years for delivering specialist solutions to some of the UK’s most recognised manufacturing, food production and logistics businesses. We’re pleased that the Midlands Engine Investment Fund II is able to support the company at this stage of its growth.
“With its clear ambitions for the future, Ambrey Baker is well placed to build on the opportunities ahead. This investment demonstrates the important role that access to finance can play in helping established Midlands businesses grow.”
The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides equity investment up to £5m and debt finance from £25k to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.