A Sandiacre firm specialising in plastic and metal injection moulding has secured a £250,000 from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners.
H.P.M Limited (HPM) will use the funding package to supplement its working capital, strengthen its presence in the region and hire three additional staff.
The deal follows the recent acquisition of HPM by Bage Technologies Limited in June.
HPM produces customised components, sub-assemblies, complete product assemblies and testing for various industries including the aerospace and medical sectors.
The news follows similar recent funding allocations into D2N2 businesses by the MEIF including £2.25m into health sciences firm Locate Bio and £200,000 into videogame payment platform Transaction Technologies.
The Midlands Engine Investment Fund is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East Midlands.