A Leicestershire-based business which specialises in bespoke LED design and installation will see its ambition to expand further into the United States’ market realised, thanks to crucial funding from the Midlands Engine Investment Fund (MEIF), supported by the European Regional Development Fund, through a small business loan from appointed fund managers Enterprise Loans East Midlands.
Ventola Projects, which operates from Anstey and a factory in Blaby, was established in 2007 by managing director Mick Ventola following more than 25 years’ experience in the industry working within electrical contracting and data systems.
The company specialises in delivering bespoke LED requirements, supplying the whole solution from initial design, manufacture, supply and installation, with a particular expertise in the leisure sector.
Speaking about the firm, Mick Ventola, managing director at Ventola Projects, said:
“We’ve been involved in lighting for more than ten years now, but my personal experience goes back further than that. I started out in 1989 as a sole trader working in electrical consultancy and during this time I started nurturing business connections across the world, from the U.S. to the Middle East, as well as back home in the U.K, expanding into new markets and sectors.
“Since then we have gone on to deliver some very high profile projects including work on palaces for the emir of Qatar and home of a Kuwaiti sheikh, which have both been an amazing experience. On top of that, we’ve also extended our links with a company in the States who will now supply our branded products as our official distributor for this region.”
Ventola’s main product is the VAvR range, a multi-function LED system that can switch from general lighting to colour changing mood lighting or UV glow effects. The products are computer-controlled and low voltage, so are quick and cost-efficient to install.
Through Enterprise Loans – one of the three fund managers responsible for the debt finance available through the MEIF - Ventola Projects has been supplied with £25,000 in order to help facilitate the firm’s expansion in the U.S, including attaining certification, manufacture forward stock and investing in marketing and PR activity.
Sukhveer Chirrimar, loan fund advisor at Enterprise Loans East Midlands, said:
“Mick is incredibly switched on - no pun intended - with his business and the in-depth planning and strategising he has undertaken, all of this hard work is now bearing fruits. He is very focused and understands what he needs to grow the business and now has a massive opportunity to break into the US market by supplying one of the country’s largest leisure product manufacturers.
“We are delighted to help Ventola Projects realise their ambition and it is truly great to see an East Midlands–based firm achieving such international success. We wish them every success in the future.”
Grant Peggie, director at British Business Bank, said:
“We are pleased to be able to support Ventola Projects in entering large-scale markets such as the US. It clearly demonstrates how the Midlands Engine Investment Fund aims to support the region’s firms, in this case in raising their profile and increasing their competitive edge overseas.
“We look forward to seeing the progress of Ventola and expect its upward trajectory to continue.”
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.
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