5th November 2018
Investment will enable Northamptonshire-based DTC to execute growth strategy by developing industry-leading training centre, creating 40 new jobs
MEIF Maven Debt Finance (“the Fund”), managed by Maven Capital Partners (“Maven”), has provided DTC International Limited (“DTC”), a telecoms lifecycle management company, with £350,000 of debt funding. The funding will enable DTC to develop a state-of-the-art training centre, which will support its ambitious growth strategy, creating 40 new jobs in the South East Midlands.
The new training centre is intended to be a centre of excellence in the industry, and is a crucial part of the company’s move to a direct-employment model, enabling the business to train employees to an exceptionally high standard, assist in ensuring higher workforce retention and offer cross-skilled Engineers in what is a fast developing market.
Highly regarded within its industry and supporting a number of blue-chip customers, DTC provides lifecycle management services across all areas of a telecoms network. and has developed three distinct divisions; Reverse Logistics, After-Market and Technical Network Services. The company’s services range from providing technology migration consultancy to major telecom operators, ethically recycling older telecoms technology, copper cable recovery and the recycling and subsequent sourcing and resale of mature technology to current users.
Huge demand and growth is anticipated in the UK broadband sector. The UK Government recently announced, in its Future Telecoms and Infrastructure Review, the £1.1 billion investment to give the majority of the population access to 5G, connect 15 million premises to full fibre broadband by 2025 and provide full fibre broadband coverage across all of the UK by 2033. Major telecoms operators, including BT and Virgin, are planning to spend £6B and £4B respectively over the next five to seven years in broadband roll-outs and network improvements.
The increased focus is on improving broadband networks, and, combined with the ever-evolving telecommunications landscape DTC is in an advantageous position to benefit from this investment that is vital for the UK to remain globally competitive in a digital world.
Jonathan Lowe, Investment Director at Maven said: “DTC is an established and growing business, backed by an experienced management team and we are delighted to support the company with a flexible funding package through the MEIF Debt Fund. The business is highly regarded in the telecoms sector and is well placed to take full advantage of the opportunities in this growing industry. The company has shown consistent and sustained growth since incorporation – this funding package will help DTC ensure it has the right assets in place to fulfil its ambitious growth strategy.”
James Norden, CEO at DTC said: “This is perfect timing for DTC to secure funding and will help DTC to execute its rapid growth strategy, establish a state of the art telecom training centre, purchase training equipment, and grow the workforce by employing 40 new recruits. The team and I are excited about the future prospects of the business and look forward to working with the team at Maven to fully exploit the opportunities available to DTC.”
Grant Peggie, Director at the British Business Bank, said: “It is good to see that funding from Midlands Engine Investment Fund (MEIF) money, managed by Maven Capital Partners, is supporting the growth of DTC and creating new jobs in the region. The telecoms market is a thriving UK sector, so DTC’s rapid rise in this highly competitive area shows the business’ has clear growth potential and it is positive that the British Business Bank can support this growth and create wider economic benefits.”
Malcolm Johnston, Growth Hub Manager at SEMLEP, said “The Midlands Engine Investment Fund (MEIF) was created to support growing businesses like DTC. SEMLEP is delighted that the fund manager, Maven Capital Partners is providing this funding to support DTC’s on-going expansion plans and help them to create a new state of the art telecom training centre here in the South East Midlands”.
The MEIF debt funds, managed by Maven, focus on providing debt funding to high-growth potential businesses located across the Midlands. Composed of two separate lots, of £50m for SMEs located in the West Midlands, and £40m for growth businesses in the East and South-East Midlands, the funds can provide finance of between £100,000 and £1.5million.
With offices in Nottingham and Birmingham, Maven has built a highly skilled team with in-depth knowledge of the local SME market, and have positioned a dedicated Investment Specialist in each Local Enterprise Partnership area.
The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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