Vimeo logo Twitter logo LinkedIn logo

News

Header icon
Back to News jepco photo

1st October 2019

Horticulture producer cultivates new growth after £900,000 from MEIF Maven Debt Finance

Funding will be used to acquire new technology supporting growth and creating 14 new jobs in Greater Lincolnshire

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.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo
Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans page
Learn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance page
Learn More
equity finance

Equity Finance

£50k – £2m

Equity Finance page
Learn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept page
Learn More
Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo

For the latest news and views join our mailing list

Join our mailing list

Just add your details below to receive the latest Northern Powerhouse Investment Fund news and information