Sleaford Building Services (SBS), a Lincolnshire-based mechanical, electrical and construction contractor, has secured a £750,000 funding package from the Midlands Engine Investment Fund II.
The finance was provided by the appointed fund manager for the East and South East Midlands, Maven Capital Partners, and will support working capital requirements to deliver a growing pipeline of secured contracts.
Founded in 2003, SBS has experience in various sectors including healthcare, leisure and education across the UK. The new funding package will enable SBS to scale its delivery capability as the business continues to grow, taking on larger and more complex projects across its core sectors.
Maven first backed the business through the first iteration of the Midlands Engine Investment Fund in 2019, which supported the firm’s growth plans, enabled it to deliver a number of contracts, and resulted in the creation of new jobs. SBS has continued to grow steadily since then, further building its capabilities and client base across the region and beyond.
Barry Exton, managing director at Sleaford Building Services, said: “We’re pleased to secure this funding, which will drive organic and cross sector growth. We’ve worked with Maven on two occasions now to secure a debt finance package to support the business and in doing so, creating employment robustness and opportunities for new starters.”
Richard Altoft, investment director at Maven, said: “We’ve worked with Barry and the team at SBS for a number of years and have seen the business go from strength to strength. They have an impressive track record of delivering complex mechanical, electrical and construction projects to the highest standard.
“This latest funding will provide the additional headroom they need to fulfil upcoming contracts, and we’re pleased to continue our partnership through the Midlands Engine Investment Fund II.”
