L-r: County Councillor Tim Ashton, Chair of Lancashire County Developments Limited, MD of NVM Group John Seymour and Chris Carter of Mercia Fund Managers
A Lancashire business which supplies control systems for automatic doors has acquired a parking security firm in London, after securing a six-figure debt funding package from EV SME Loans and Lancashire Rosebud Finance, which are both managed by Mercia Fund Managers.
North Valley Metal (NVM), which is based in Nelson, has acquired APT Security Systems of Hemel Hempstead. The deal will give NVM a presence in the South and provide a new market for its products.
Founded in 1966, NVM operates from three sites in Nelson and is the longest-established supplier of its type in the UK. Its electric control systems are used in industrial doors, garage doors and automated gate and entrance systems.
The current Managing Director, John Seymour, took over in 2008 following the retirement of the founder, and has focused on expanding the business and introducing new technologies and products. In 2015 it acquired Portico, a similar business based in West Bromwich.
The latest acquisition, APT Security Systems, was established in 1962 and is one of the UK’s leading providers of vehicle access control and traffic management systems. APT, which employs 12 staff, was previously part of the Austria-based multinational Swarco AG. The deal brings the total number of staff across the NVM group to over 30.
Chris Carter, Investment Manager with Mercia Fund Managers, said: “Both NVM and APT Security are long-established brand names and leading players in their industries. This acquisition will further strengthen the profile of NVM and give it the ability to offer its products and services across the country through its presence in three locations along the ‘spine’ of England. It allows NVM to supply roller parts and gear mechanisms for APT’s products, and gives both companies a wider product range to offer their existing customers.”
Lancashire Rosebud Finance supports growing businesses in Lancashire, and partnering with other lenders enables companies to get the funds that they need.
Rosebud is part of Boost, Lancashire's business growth hub. Companies using Rosebud finance will be made aware of the range of support available through it. This enables businesses to reach their full growth potential.
Lancashire Rosebud Finance supports growing businesses in Lancashire. It is managed by Mercia Fund Managers, on behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic development company.
County Councillor Tim Ashton, Chairman of Lancashire County Developments Ltd (LCDL) - the county council's economic development company, said: "Rosebud's flexibility means that we can offer financial support in ways that other lenders wouldn't necessarily take up. This is a huge positive for us, and something that has helped Rosebud to support many Lancashire-based businesses over the years and created many jobs.
"Thanks to Rosebud's finance and support, coupled with Mercia's backing, we’re able to bring these two companies together in ways that will expand their reach, offer new services and build their business even further. This is good news for Lancashire and supports our manufacturing expertise.
"Rosebud has many years of experience helping businesses in Lancashire to grow, and thanks to our work with Boost Business Lancashire, we're continually updating what we can offer to businesses based here. Contact Rosebud to find out how we could help your business to grow."
Boost helps growth-hungry Lancashire businesses to realise their potential by providing simple access to a range of leading-edge funded programmes. It is funded by the Lancashire Enterprise Partnership, Lancashire County Council and the European Regional Development Fund (ERDF).
Jenny Goodwin of Farleys provided legal advice to NVM, while Isabelle Inskip of Weightmans advised Mercia Fund Managers.