Tuesday, July 7, 2020

Lincolnshire horticulture producer secures £900,000 funding package

The Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners (Maven), has provided Lincolnshire-based, Jepco, with a £900,000 funding package, which will enable the horticulture firm to acquire the hydroponic technology and equipment needed to expand production all year round.

The finance package will also create 14 new jobs in the region. This is the second MEIF loan made to the Jepco Group.

Two distinct opportunities have arisen for Jepco. The first is to help protect crop growers in the UK, affected by Fusarium, a soil fungi that destroys crops. The second is the introduction of an all year-round supply of salads from UK growers for the retail sector, which have now started to trial in a major UK supermarket.

The firm’s new hydroponic production facility will help to avoid Fusarium due to the process not involving soil. It will also allow all-year round production at the same time as significantly reducing the impact on the environment with the process requiring 10 per cent or less water than traditional outdoor growing methods.

Now in its third generation, the family-run company is led by CEO, Stuart Piccaver, the grandson of John E Piccaver, who founded the business in 1946.

Stuart Piccaver, CEO at Jepco (Marketing) said: “We look forward to investing in our hydroponic solution, offering our customers a high yielding alternative for the future. Our new systems will provide great advantages across our supply chain, providing benefits for the consumer, retailers and growers in the UK and Ireland.”

The high cost of purchasing and installing hydroponic systems has been a significant barrier for growers. Jepco has identified soilless growing systems that are affordable and will retro-fit these to existing protected structures such as greenhouses.

Richard Altoft, Investment Director at Maven Capital Partners said: “We are very pleased to be working with another company from the Jepco Group – helping fund an innovative hydroponics project. This separate facility will provide a sustainable offering to Jepco’s customers and deliver a solution to protected crop growers in Ireland and the UK.”

Lewis Stringer, Senior Manager at the British Business Bank, said: “The Midlands Engine Investment Fund has been set up to provide finance to firms across the entire region. Maven Capital Partners will now support additional growth in this innovative Lincolnshire business. We would encourage other businesses looking to scale up and grow to check out the options available through MEIF.”

A spokesperson from Business Lincolnshire, said: “We are delighted to hear that Lincolnshire-based Jepco has secured a £900k funding package from the Midlands Engine Investment Fund. This is a boost to food manufacturing in our county, which many will know is famous for producing much of the fresh produce we see on the supermarket shelves. We will continue to support and encourage Lincolnshire based businesses across industries to apply for finance and support to help their businesses thrive in the coming years.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Loughborough University in £1m project to prepare motorways for self-driving vehicles

A new £1m project will see Loughborough University team up with Highways England to ensure the country’s motorways can accommodate connected and autonomous vehicles...

New date for the 2020 East Midlands Bricks Awards

This year’s highly anticipated East Midlands Bricks Awards has now been rescheduled for Thursday 29th October 2020. The annual Bricks Awards attracts property and construction...

Industrial property company acquires four warehouse units

Stenprop, the UK multi-let industrial (MLI) property company, has acquired a further 43,500 sq ft of MLI property across four adjoining warehouse units in...

Job applications rise and competition intensifies

Competition for jobs has intensified as the lockdown eased with applications rising by 32% in June, according to a new market report. The report, from...

Business volumes fall at record pace in financial services

Business volumes in the financial services sector declined at the quickest rate on record, according to the latest CBI/PwC Financial Services Survey. Profitability and...

Related news

Nottingham business wins Dubai deal as countries scale up antibody screening and training

A Nottingham business which helps healthcare professionals to improve their skills in venepuncture and cannulation, has secured a major deal with Dubai-based Leader Healthcare. VeinTrain...

Loughborough University in £1m project to prepare motorways for self-driving vehicles

A new £1m project will see Loughborough University team up with Highways England to ensure the country’s motorways can accommodate connected and autonomous vehicles...

New date for the 2020 East Midlands Bricks Awards

This year’s highly anticipated East Midlands Bricks Awards has now been rescheduled for Thursday 29th October 2020. The annual Bricks Awards attracts property and construction...

Industrial property company acquires four warehouse units

Stenprop, the UK multi-let industrial (MLI) property company, has acquired a further 43,500 sq ft of MLI property across four adjoining warehouse units in...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close