Maven managed Midlands Engine Investment Fund II announces first deal

Specialising in the manufacture of high-quality adhesive tapes, Advance Tapes serves industries ranging from construction and automotive to healthcare and aerospace, supplying products known for their durability and reliable performance in demanding environments. Maven first supported the business in 2019 with £600,000 of funding through the first Midlands Engine Investment Fund (MEIF I), which enabled the company to broaden its client base and drive forward its product development initiatives.

Founded in Leicester 60 years ago, Advance Tapes has established a strong market presence both across the UK and internationally, particularly within Europe. This latest £500,000 funding package from the Midlands Engine Investment Fund II will provide crucial working capital to support expansion into new sectors, bolster the development of its branded and white-label adhesive tapes, and create new jobs at its Leicester manufacturing facilities.

With the global speciality tapes market valued at over $55 billion in 2023 and projected to grow at a compound annual growth rate (CAGR) exceeding 6.5% from 2024 to 2032, demand across industries is anticipated to remain robust (Source: GM Insights).

From left to right: Sajid Sabir, Investment Manager at Maven, Sharon Boyle, Managing Director at Advance Tapes, Adam Bramley, Operations Manager at Advance Tapes, Kerrie Robinson, Finance Manager at Advance Tapes and David Tindall, Senior Investment Manager at the British Business Bank.

"Since we first invested in the business in 2019, Advance Tapes has experienced significant growth, winning a number of key contracts with clients both in the UK and globally. We are delighted to be able to support them with additional funding through the Midlands Engine Investment Fund II to help it capitalise on market tailwinds and scale further."

Sajid Sabir, Investment Manager at Maven

"Myself and my fellow directors at Advance Tapes are delighted to have gained repeated investment from the British Business Bank’s Midlands Engine Investment Fund. I would like to thank Sajid Sabir and the rest of the team at Maven for their hard work and first-class support during this process. The realisation of this working capital will allow us to continue to embed the brand both at home and internationally and provide a platform for growth."

Kym Ellington, Finance Director at Advance Tapes

“Seeing businesses who were successfully supported during the first fund return for further funding from the Midlands Engine Investment Fund II is testament to the strength of finance access and business investment in the Midlands. It illustrates perfectly the impact of this latest fund and how access to finance can help businesses at any stage."

David Tindall, at the British Business Bank

The £400 million Midlands Engine Investment Fund II was launched in February 2024 and covers the entire Midlands region, providing debt finance from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

As Fund Manager of MEIF II - Debt Finance East and South East Midlands, Maven can provide business loans from £100,000 to £2 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is looking at debt finance as a solution to fund future growth please click here.