YBS Insulation (“YBS”) has received a £250,000 from the Midlands Engine Investment Fund (“MEIF”) East & South East Midlands Debt Finance Fund, managed by Maven Capital Partners (“Maven”).
The money will allow the business, based in Creswell, Derbyshire, to invest in new production machinery to increase its output capacity, as well as strengthening its sales and marketing function. 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. Using its on-site laboratory and testing facility, YBS has developed a product range that is thinner, lighter and more energy efficient than traditional products that are on the market such as those that are made of mineral wool and polyisocyanurate (PIR) board.
The business already supplies major UK builders’ merchants and DIY retailers such as Screwfix, Wickes, Toolstation and Homebase, in addition to retailers in Europe.
Simon Sharkey, Managing Director at YBS, commented: “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.’’
Jonathan Lowe, Investment Director for Maven, added: “We are delighted to support Simon and his team with this MEIF loan as YBS look to develop to the next stage. Increasing numbers of property owners in the UK and overseas are seeing the benefits of investing in energy efficient insulation and YBS is well placed to expand further at its site in North Derbyshire.’
Sajeeda Rose, Chief Executive at D2N2, the Derby, Derbyshire, Nottingham and Nottinghamshire Local Enterprise Partnerships, 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.”
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.