Case Studies

Back to Case Studies

Vacuum Furnace Engineering

Specialist in design and supply of vacuum furnaces will use the MEIF funding to support increased demand for products and achieve its ambitious future growth plans 

The Midlands Engine Investment Fund (“MEIF”) Debt Finance, managed by Maven Capital Partners (“Maven”), has provided Black Country based Vacuum Furnace Engineering Ltd (“VFE”), with a £1.5m funding package. This will enable the business to increase output, fund several large projects and pursue its growth strategy.

VFE is a leading specialist in the service, repair and overhaul, as well as supply and design of vacuum furnaces and autoclave and serves a range of blue-chip customers from various sectors including aerospace, automotive, medical and general engineering. Vacuum furnaces are used to heat treat metals and ceramics at high temperatures without exposure to air, whilst autoclaves are used to heat treat composite materials at high pressure and low temperatures.

According to Market Research Future, due to increased demand environmental pressure, many industries are seeking to reduce their carbon footprint and demanding improved fuel efficiency, leading to growth in the use of titanium metal. This is good news for companies like VFE, as materials such as titanium require heat treatment in vacuum furnaces.

Backed by a highly experienced management team, CEO, David Byrne, is an experienced leader in manufacturing and distribution sectors. He has held several CEO and MD assignments in relevant sectors. Finance Director, Adam Lumley, has an MA in Natural Sciences from Cambridge University and has held previous FS and senior Finance assignments across several manufacturing businesses.

David Byrne, CEO of VFE, said: “The funding package we have received from MEIF and Maven will support us as we approach a period of rapid growth for the business. Our products and services have seen increased demand and we are extremely excited to deliver our growth plans. The team and I look forward to the coming years and working alongside the Maven team.”

Chris Rogers, Investment Manager at Maven Capital Partners said, “VFE is a well-established business that operates in a growing sector, with a clear growth strategy in place. In many ways this is exactly the type of opportunity MEIF is there to support. We look forward to working with the team as they deliver their growth plans and support job creation within the Black Country.”

The deal was supported by Orbis Partners who undertook due diligence on behalf of Maven.

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


Worcestershire-based @RapidRetail has secured £98k from @B_C_R_S through the #MEIF in conjunction with #CBILS.

The finance boost will help the firm, which supplies modular retail units, to fulfil orders and protect jobs.

Read more in @insiderwestmids: https://t.co/9ANR7Ho2Kn https://t.co/DdPkIEmVqg
MidsEngInv photo

#MEIF finance can be used to support buying machinery, hiring staff or expanding into new markets. A recent Early Assessment Report found that the Fund’s investment was enabling more businesses to export abroad.

Read the full report here: https://t.co/husSGZCYQu https://t.co/m3PNR6Jf0K
MidsEngInv photo

We have launched a #MEIF LinkedIn. Follow the page for the latest investment news, Fund information and support on accessing finance: https://t.co/mhwkGSoAcr https://t.co/JOSv8rnRAQ MidsEngInv photo

The @BritishBBank’s Coronavirus Business Interruption Loan Scheme is available to SMEs disrupted by COVID-19. #MEIF fund managers @B_C_R_S, @FinanceSE and @1st_Enterprise join partners providing up to £5m to UK SMEs.

Find out more about #CBILS: https://t.co/2xEu9sVTmd https://t.co/7PDOSn4uUl
MidsEngInv photo

#MEIF Proof-of-Concept equity funding can help you get an idea off the ground and realise your business dream. Available via our fund manager @Mercia_PLC, find out more about this funding type here: https://t.co/mQ2yg2P91L https://t.co/zO1eTqSEvc MidsEngInv photo

Find Out More

If you would like to meet with one of MEIF's 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

£25k – £150k

Learn More
debt finance

Debt Finance

£100k – £1.5m

Learn More
equity finance

Equity Finance

£50k – £2m

Learn More

Proof of Concept

Up to £750,000

Learn More