SME Loans

Energy management firm raises £412k as it hits export trail

Vickers Electronics, whose energy management systems are used by some of the biggest names in UK industry, has secured a loan of up to £412,000 from Enterprise Ventures SME Loans. The funds will be used by the company to support its continued growth and to build its presence in export markets.

Vickers’ systems help to reduce energy consumption in industrial and commercial buildings by an average of 43% through the regulation of temperatures in different areas.

Its flagship V42 system was the winner of the Queen’s Award for Innovation and the recently launched VickersVision works alongside it to allow customers to manage their system remotely via a web browser or mobile phone app.

Founded in 1991, Vickers now employs 26 at its headquarters in Trafford Park, Manchester and its Worcester office and has a blue-chip customer base which includes Boots, Royal Mail, Volvo, Rolls-Royce and Warburtons.

In particular it is targeting the US market, where transport operator Stagecoach is currently trialing its systems, and Poland, which has heavy industries but outdated facilities.

Enterprise Ventures acquired an equity stake in Vickers in 2011 through the Enterprise Ventures Growth Fund. Chris Pestell, Investment Director with Enterprise Ventures, said: “Vickers’ systems have a unique position in the market with no real direct competitors. As they offer significant savings, heavy energy users can quickly recoup their initial outlay as well as cutting their carbon footprint. The need for industry to reduce costs, and the global commitment to reducing carbon emissions, will both help to drive the company’s growth.

“There is a huge potential market for Vickers’ products. This latest funding will allow the company to step up its sales drive in the UK and help it establish a presence in lucrative overseas markets.”

Enterprise Ventures SME Loans is backed by Santander UK plc and Greater Manchester Pension Fund and is available to UK businesses which have been trading for three years or more and which have current or anticipated £100k operating profit and a minimum turnover of £1 million. Loans are available for all purposes, including acquisitions, asset purchases, operational improvement and business development.