The Greater Manchester Loan Fund (GMLF), managed by Maven, has completed a £750,000 investment in Manchester-based Shield Safety, one of the UK’s leading providers of Food Safety, Fire Safety and Health & Safety software and services. The investment will allow Shield Safety to strengthen its current offering to existing clients, target new customers by broadening its market reach and create over 70 jobs in the Greater Manchester area.
Shield Safety provides SMEs and larger corporates with a comprehensive service to ensure that they are fully compliant with legislation. Its cost-effective solution reduces complexity and risk by ‘making safety simple’, enabling businesses of all sizes to protect the safety, health and welfare of its employees.
The UK health and safety market has grown steadily over recent years, with a market value of around £800m in 2017. Recent major changes to the laws around sentencing guidelines have led to the highest fines for safety breaches in history, which has seen an significant increase in investment by businesses in its risk management.
Shield Safety was founded in 2003 by Mark Flanagan (CEO) who has built a strong operational management team around him. The business has grown to become one of the UK’s leading providers of risk and safety management software and are the largest employer of Environmental Health Practitioners in the UK, providing audit, policy and consultancy services alongside their award-winning SaaS service.
Craig Hopwood, Investment Director at Maven, said: “We are delighted to support Shield Safety’s growth plans through this investment. This is a really exciting business and we were attracted to it straight away. Mark and his team are driven and passionate about the business and are focused on the compelling future growth opportunities in their markets. They have invested a significant amount of time and resource in creating a sophisticated technology platform alongside high level support for their clients. We look forward to working with Mark and the team, assisting their ambitious growth plans while boosting employment in the region.”
Mark Flanagan, CEO of Shield Safety, said: “We are thrilled to have received this investment, especially from a Manchester-based fund. Shield Safety is a born and bred Manchester business and we are committed to putting the city on the map as a tech capital. It is tremendous to have Maven share our vision of continued growth for the business, and to support us on this exciting journey. We spoke to a few different capital partners and quickly found Maven to be the clear choice as a result of their professionalism and approach. The whole team and I look forward to working with them as the partnership goes from strength to strength.
Mayor of Greater Manchester Andy Burnham, added: “Greater Manchester has always led the way in driving innovation and being forward thinking, which is why we pride ourselves on working with new businesses and industries to help them flourish. Our digital sector in particular is thriving and it’s important that we nurture these new developing companies as we work towards becoming the UK’s leading digital city.
“Through the fund and the investment announced today, we are demonstrating Greater Manchester’s ambition and commitment to do things differently, working with local firms to help them grow and create jobs and opportunities for local people.”