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6th February 2020

Wholesale nursery supplier secures £250,000 loan from MEIF Maven Debt Finance

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Debt financeLincolnshire LEPMaven Debt Finance East & South East Midlands

Family run plant nursery will use the funding to accelerate growth plans, diversify its customer base and take advantage of new market opportunities.

The Midlands Engine Investment Fund (“MEIF”) Debt Finance, managed by Maven Capital Partners (“Maven”), has provided Opperman Plants Limited (“Opperman”), a Spalding-based wholesale nursery supplier, with a £250,000 funding solution.

Founded in 1990 by husband and wife, Michael and Jennifer Opperman, Opperman Plants is a family run nursery supplying wholesale plants to retailers across the UK. The loan is set to support the firm’s expansion plans, enabling it to diversify its customer base and finance new market opportunities.

Opperman’s 13.5 acre Lincolnshire site comprises glasshouses with ancillary buildings and a biomass boiler and kiln, as well as horticultural crops. The business supplies grown to order high quality pot-plants in large numbers.

Michael Opperman, Founder of Opperman Plants, said, “We are delighted to have the backing of MEIF and Maven. The funding will enable us to take advantage of new opportunities to grow our business. With Maven’s support, we are confident we can pursue our ambitious growth plans faster.”

Richard Altoft, Investment Director at Maven Capital Partners, said, “Opperman Plants is an established supplier servicing a range of wholesale customers across the UK. We’re delighted to support the business as it embarks on a programme of growth, expanding its customer reach and exploring new market opportunities. We look forward to working with Michael and Jennifer to help the business execute its development plans.”

Lewis Stringer, Senior Manager at the British Business Bank, said, “The British Business Bank is delighted to see businesses from the more rural areas of the region securing finance from the MEIF, growing and seizing market opportunities as a result. The continued growth of these businesses is crucial to Lincolnshire and the wider Midlands’ economy.”
Ruth Carver, Chief Executive of the Greater Lincolnshire Local Enterprise Partnership, said, “This loan is great news for Opperman Plants in Spalding as it will help the company to grow and diversify. Greater Lincolnshire is known for its cutting-edge horticulture, and we are delighted that the MEIF is supporting the growth and ambition in this important sector for the Midlands.

“The Midlands Engine Investment Fund is a valuable source of finance for Greater Lincolnshire businesses, and this is a good example of how the fund is boosting SME growth across our area. We wish Opperman Plants the best of luck with its expansion plans and look forward to working with the team.”

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.

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Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
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Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

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