b'ww wwStrategic report Governance Financial statementsDebt financeBackingrobust businessesMercia provides debt finance to ambitious small companies. The portfolios characteristics are broad, crossing a range of business activities from complex, cutting-edge technology, through to more traditional servicePerformance exhaust businesses. The one thing that all the debt portfolio companies have in common is thatmanufacturersthey are led by robust management teams, committed to growing their businesses. Cobra Sport Performance Exhausts produces stainless steel sports exhausts and is setting Mercias debt funds are led by Paul Tabernernew standards in quality and performance who is the highly experienced Managingthrough innovative design and advanced Director, Mercia Debt Funds. manufacturing techniques. Deal flow for the debt funds comes from thePowering regional ambitionsinvestment teams extensive network with theThe business has grown rapidly since its first regional banking community, with many of investment from Mercia in 2018, expandingthe investment team members themselvesits manufacturing capabilities and entering having previously worked for banks ornew markets. Turnover is up by 40% in a alternative finance lenders. three-year period. Mercia is a proactive investor; they are keen to see how we are progressing and are genuinely interested in the business, which is refreshing.Rachel AbbottCEO, Cobra. Enquiries457Total transaction value 14.5mMercia Asset Management PLC 33Annual Report and Accounts 2020'