Thursday, January 21, 2021

Sleaford firm funds growth ambitions with private equity investment deal

Chelverton Asset Management has invested an undisclosed sum in Sleaford-based Fen-Bay Services, a supplier of loading bay equipment, industrial doors, gates, barriers and high speed doors that operates across the UK and Ireland.

The investment was arranged on behalf of Chelverton’s client, Hockley Capital, which has committed “substantial” funds to enable the existing management team – led by Carl Sedlan and John Aitken – to invest in the business.

Chelverton investment director, Richard Bucknell, who led the transaction on behalf of Chelverton’s client, said: “Carl and John have delivered tremendous success at Fen-Bay over recent years, exploiting their deep product knowledge and ‘can do’ approach to business, to deliver market-leading solutions to an increasing range of highly demanding retail and logistics clients. It is to their great credit that they recognised that the potential they had created would only be realised with an experienced partner on board and, in Hockley Capital, they now have a supportive investor who shares their ambition”.

Sedlan added: “The last few months has been a steep learning curve, but in spite of the potential distraction of the deal process, Fen-Bay has continued to perform, enjoying its busiest year to date. We have continued to deliver for our customers and, with the support of Chelverton and Hockley, we’re now raring to go for the next chapter in the Company’s development”.

Rich Wilkey, of Harrison Clark Rickerbys which provided legal advice, said: “We were delighted to be able to support a deal which will provide an excellent investment and enable the growth of such an innovative and dynamic business. We have worked with Chelverton for some time now and look forward to supporting them further”.

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 pandemic 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

Team17 acquires rights and assets for golf video game in £12m deal

Team17, the games entertainment label, creative partner and developer of indie video games, has acquired all rights and assets for Golf With Your Friends (GWYF),...

Stone specialist wins major university contract

Natural stone specialist Stamford Stone has won a major contract which will see it supplying it’s Clipsham limestone as part of a multi-million pound...

Bombardier to expand manufacturing capacity in Derby following Egyptian deal

Bombardier Transportation is investing in its manufacturing capacity in Derby to build two new monorails, as part of a deal with the Egyptian Government,...

2021 Business Predictions: Matt Wheatcroft, Managing Director of Purpose Media

Back in 2019, when we began publishing our series of reader predictions for 2020 there wasn’t any hint of a global pandemic. As we...

Revenues rise at CloudCall despite 2020 being “undoubtedly a year of two halves”

Revenues have risen at CloudCall, according to a trading update for the year ended 31 December 2020. The Leicester-based integrated communications company is expecting to achieve...

Related news

New chief financial officer for Peppermint Technology

Legal software vendor, Peppermint Technology, based in Nottingham, has strengthened its executive team with the appointment of Niki Redwood as chief financial officer (CFO). In her...

Team17 acquires rights and assets for golf video game in £12m deal

Team17, the games entertainment label, creative partner and developer of indie video games, has acquired all rights and assets for Golf With Your Friends (GWYF),...

Stone specialist wins major university contract

Natural stone specialist Stamford Stone has won a major contract which will see it supplying it’s Clipsham limestone as part of a multi-million pound...

Bombardier to expand manufacturing capacity in Derby following Egyptian deal

Bombardier Transportation is investing in its manufacturing capacity in Derby to build two new monorails, as part of a deal with the Egyptian Government,...

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