One of the UK’s leading building insulation manufacturers, YBS Insulation (“YBS”), has received a £250,000 loan to progress its growth plans. The business, based in Creswell, Derbyshire, will use the funding to invest in new production machinery to increase its output capacity, as well as strengthening its sales and marketing function.
YBS secured the finance from the Midlands Engine Investment Fund (“MEIF”) managed by Maven Capital Partners (“Maven”).
The MEIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East Midlands. It is supported by the European Regional Development Fund, the European Investment Bank, Department of Business, Energy and Industrial Strategy and British Business Finance Ltd. The D2N2 LEP has contributed £11.75m of ERDF to the Midlands Engine Investment Fund.
The deal will help YBS continue to generate new business opportunities by enhancing its digital presence, improving its e-platform and growing its social media presence.
YBS specialises in producing building insulation products for private homes and the construction sector such as multi-foil insulation, bubble laminates, cavity closers and foil membranes. The business already supplies major UK builders’ merchants and DIY retailers such as Screwfix, Wickes, Tool station and Homebase, in addition to retailers in Europe.
Sajeeda Rose, Chief Executive, D2N2 LEP said “Through the Midlands Engine Investment Fund, we want ambitious businesses to have the opportunity to grow and innovate. Supporting companies like YBS, which are helping to reduce energy consumption and reduce carbon emissions, will help our regions collective vision for green led recovery and growth.”
Simon Sharkey, Managing Director at YBS comments: “This marks another exciting milestone for YBS as we look to continuously improve our customer offering though new product developments and improved efficiency. We have significantly advanced the business over recent years, but this will provide the investment to really accelerate our plans. Jonathan and Maven have been instrumental in securing this investment and we at YBS are looking forward to building on this relationship.’’
Lewis Stringer, Senior Manager at the British Business Bank, said: “By securing this funding package from MEIF, YBS will be able to build its manufacturing capacity, unlocking new growth. We encourage other Midlands’ businesses that are looking to bounce back and reach their next stage of growth to consider the various finance options available through the MEIF.”