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Warner’s, a founder-led alcoholic and non-alcoholic spirits business, has secured a £1.5million investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme, to fund its international expansion, marketing objectives, production and tourism capacity. 

Warner’s is an award-winning distillery based on a family farm in Northamptonshire. The company’s natural spirits are crafted using water from a spring with home-grown botanicals. The largest independent craft gin distillery in the UK, Warner’s 200-year-old site also acts as a visitor attraction with 10 acres of botanical gardens, distillery buildings, tastings, and tours. 

Tina Warner-Keogh, co-founder and co-CEO, said: “We’ve been leading the way with naturally flavoured full strength gins since the gin renaissance of the mid 2010s and were the first craft distillery to launch a range of natural non-alcoholic spirits, which is now one of the fastest growing areas of the business. 

“We’ve developed a strong brand around quality and provenance and have secured the funding and resources required to meet growing demand. The MEIF expansion capital means we can continue delivering growth and build on the platform created to date. We’re grateful to FSE for their backing, enabling us to double bottling capacity and work towards our ambition to triple sales to £25+million over the next five years.”

A sustainable operation that puts nature at the heart of the business, Warner’s is a certified B Corp and commits a portion of business revenues to deliver green action. It has established a world first Warner’s Nature Marque initiative, which is encouraging biodiversity in pub gardens across the UK. Its Trash & Treasure botanical series is produced using ‘unwanted’ ingredients and food wastes such as dandelion roots, over-ripe bananas and discarded citrus peels.

Ann Marie McFadyen, Investment Manager at The FSE Group, added: “Warner’s has proven high demand for its award-winning products, which has in the past been met with temporary recruitment and short-term solutions. Its experienced and capable management team is now looking to establish an operation and employee base that is fit for future growth as they scale the business, and we are delighted to be supporting them to achieve this.”

The global gin market is estimated to be worth £9.3billion with the UK accounting for £2.2billion. Recent data suggests that 72% of consumers think about sustainability credentials when choosing food and drink with 40% willing to pay more for items that are sustainably sourced. Warner’s approach is aligned to this changing consumer behaviour, where their focus on sustainability and natural ingredients differentiates them from competitors and places them in a strong position to exploit this still-growing market.

Mark Wilcockson, Senior Investment Manager at British Business Bank added: "MEIF continues to support SMEs that prioritise sustainability and eco-friendly approaches to business and Warner’s Distillery fits this description perfectly as a B Corp. The MEIF supports sustainable growth for the region and this investment will support the company’s international expansion from its Midlands base.” 

Hilary Chipping, Chief Executive of SEMLEP said: “Success with Warner’s international expansion plans will be a major win for the UK drinks industry. The food and drink sector in the South East Midlands region alone exported around £313 million in 2021 and it has the potential for significant growth. With a diverse range of food and drink businesses, this region is home to innovators in the sector supported by an expansive sector ecosystem in which Warner’s is a leading business and brand. We’re delighted to see investment in Warner’s and hope to see much future success.”

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 2014-2022 and the European Investment Bank. The FSE Group manages a section of MEIF that provides investments between £100,000 and £1.5 million to support growing SMEs across the region. For more information visit: www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance.

A specialist food producer has secured £500,000 from the East of England Regional Loan Scheme to support the growth of the business. 

Hemel Hempstead based Keeto Life, which produces food under its Seriously Low Carb brand, has created a range of award-winning keto and diabetes friendly food that includes bread rolls and loaves, pizza, flour and bread mixes, with pasta currently in development. 

The company’s 170,000+ customers seek low carb foods for a variety of reasons that include helping to manage health issues such as diabetes, metabolic syndrome, drug resistant epilepsy and GLUT1 deficiency.  

The funding will be used for product development, sales and marketing and to recruit new staff, which will enable the business to expand into the retail and food service sectors and re-establish itself in Europe in the post-Brexit environment. 

Keeto Life founder and CEO, Andy Welch, said: “We’ve created a range of innovative foods that have disrupted the low-carb market, attracted a substantial loyal customer base and delivered thousands of five-star reviews. Pre-Brexit we were selling into 15 EU countries but logistical issues halted this. With recent developments in courier services making the EU accessible once more, we are now in a position to re-target this market as well as take up a number of other opportunities, including with supermarkets, the NHS and in education settings, and the regional growth loan will help us accelerate this and capitalise on our first-to-market position.” 

Not only do keto and low carb remain some of the most internet searched diet and health related terms, health services are now also recommending these diets for certain conditions. However, despite the NHS endorsing keto and low carb diets, clinicians have confirmed it can be difficult for patients due to the lack of satisfying keto and diabetes friendly food on the market. Keeto Life’s Seriously Low Carb products are recommended by NHS ketogenic clinicians and are being made available in some NHS settings. 

Simon Elliott, Investment Manager at The FSE Group, which manages the loan scheme, added: “Andy and his team have looked beyond the snack market to fill a gap for real low carb foods and their 80% repeat purchase rate speaks for itself. Despite being a new company, Keeto Life has achieved significant traction and brand recognition with a pipeline of opportunities within the food service and retail sector, as well as across new international territories, that place it on a high-growth trajectory. We are delighted to be supporting them and look forward to working with the team as the company expands.”   

The Regional Growth Loan Scheme (RGLS) is managed by The FSE Group on behalf of Local Enterprise Partnerships in the East of England. Loans between £50,000 and £500,000 are available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100,000. The funding can be used for a range of growth activities as well as to service short to medium-term trade and contract finance requirements. The scheme aims to stimulate job creation and economic prosperity and supports SMEs that have the potential to deliver high-growth and employment opportunities across the East of England region. 

Cornish Software business Tappter has secured a £200,000 equity investment from the Cornwall and Isles of Scilly Investment Fund (CIOSIF) as part of a £400,000 funding round.

The CIOSIF investment, along with match-funding from existing and private investors, has been used to set up a base in Falmouth, and will create high value jobs to benefit the regional economy.

Established in 2016, Tappter’s app is a multi-channel messenger with ID verification and e-sign features. The business is currently targeting the residential sales and lettings market, allowing businesses and customers to communicate with multiple parties involved in the housing process.

An estate agent can use the software to communicate with a buyer, while also using it to speak with solicitors and conveyancers.  Broader expansion of services and markets is expected in the near future.

The all-in-one platform includes an innovative digital ID service enabling users to verify their ID within the app, which can then be used to confirm their identity with multiple businesses removing the need for repeat checks.

The brainchild of Keith Banwaitt (CEO) and Demetrio Filocamo (CTO), Tappter released an early beta version of the product which was used in a pilot project with the Entrepreneurial Spark programme within NatWest.

Keith Banwaitt, CEO at Tappter, commented: “Messaging apps are the primary method for communication between individuals. It makes sense that businesses should see the value in this trend and seek to duplicate its ease and ingenuity. We’ve mimicked the simplicity of popular messaging apps to make sure business and individual users have a seamless and simple experience, but the back end is anything but simple.

“Every communication need is met, from verifying IDs and document management to recording chat histories and providing the software as either a mobile or web app. The potential of Tappter is exciting and plain to see. With that in mind we are using the CIOSIF funds to open a new operational base to facilitate our growth and expand our team.”

Anna Staevska, Investment Manager at The FSE Group, added: “Tappter is an exciting young business with a compelling proposition with national and international potential. The business has a strong management team and the founders have attracted an impressive number of investors with strong experience in similar projects. We look forward to watching the team improve communication in the real estate industry and eventually expand to other industries.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

John Acornley, LEP non-executive director and chair of the CIOSIF advisory board, said: “Tappter is an innovative business that has evolved the traditional messenger app into a business-focused platform that provides a simple yet secure messaging interface for customers. The fund’s investment paves the way for future growth and new markets.” 

Paul Jones, Senior Investment Manager from the British Business Bank said: “This investment from CIOSIF comes at an important time in Tappter’s development and will allow the business to grow its presence in Cornwall, create quality jobs and impact positively on the local economy. The fund has once again leveraged significant match funding from private investors as part of the deal.”

CIOSIF 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.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Tugdock, a company delivering new solutions for the marine renewable energy sector, has received equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), from appointed fund manager The FSE Group, as part of a wider funding round to support the growth of the business.

The CIOSIF investment is being matched by Sarens, the global leader in crane rental services, heavy lifting and engineered transport. Sarens will work in partnership with Tugdock to offer an innovative solution to the fast-growing floating offshore wind industry.

The funding will be used for a range of growth activities by Tugdock, including establishing a manufacturing facility in Cornwall, hiring new staff and undertaking sales and marketing activity.

Falmouth-based Tugdock’s solution facilitates the building of floating offshore wind turbine substructures. Floating offshore wind farms are located in deeper waters much further offshore than fixed wind turbines. This gives them access to higher winds which generate more power.  They are set to play a key role in delivering a cost-effective net-zero energy transition.

Figures indicate that well over 20 gigawatts of floating offshore wind power is on track to be commissioned globally by the end of 2030, which will require the construction of more than 2,600 turbines.

However, very few of the world’s ports have sufficient water depth and assembly quay space to build the huge turbine floaters required. Tugdock’s patented marine buoyancy bag technology solves this issue. It allows floating dry docks to be delivered by road in modular form and assembled at the port to dimensions far wider than most of the world’s existing dry docks.

Tugdock founder and CEO, Shane Carr, said: “With floating offshore wind expanding rapidly internationally, we are well-positioned to support the sector. The funding from CIOSIF and Sarens will help enable us to scale up to make the most of this exciting global opportunity.”

Ralph Singleton, The FSE Group’s Head of Funds for Cornwall, commented: “With their extensive experience and industry contacts, the Tugdock team is ideally placed to optimise its first-mover advantage and deliver its innovative solutions to the new but growing international floating offshore wind market. With a strong, industry-based co-investor secured in Sarens, Tugdock expects to grow to a circa £10 million business over the next three years and we are delighted to be supporting them on this journey.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing businesses across the region. It was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

John Acornley, LEP non-executive director and Chair of the CIOSIF Advisory Board said: “The floating offshore wind sector has huge potential for Cornwall with 4GW of capacity being targeted for the Celtic Sea by 2035 and 20GW more anticipated by 2045. Tugdock’s mobile infrastructure could play a major role in bringing offshore wind turbine assembly to the region’s ports and creates a huge export opportunity for this Cornish business.”

Paul Jones, Senior Investment Manager from the British Business Bank said: “Our mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy. This investment in Tugdock will allow the business to scale up in a fast-growing segment of the international renewable energy market, create jobs in Cornwall and has leveraged major investment from a global player.”

CIOSIF 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.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk or follow the fund on Twitter at @CIOSIFBBB2.

A Norfolk business has secured a £155,000 investment from the East of England Regional Growth Loan Scheme, managed by The FSE Group, which will support the purchasing of new equipment, further product development and the hiring of 4 new staff members. 

Lazerthrust are the developers of next generation marine technology products, which are 3D printed and assembled from their site in Norwich. Their products which are currently being developed include low drag electric marine craft that can travel from Norwich to Amsterdam in two hours, without using stored energy, and small leisure craft for inland or light coastal use. 

Alongside their marine work, Lazerthrust also use their 3D printers to produce equipment for major UK water utility companies. To ensure that the equipment is of high quality and most importantly of high strength, the business built their own 3D printers using an entirely new approach that has never been utilised in their sector. To date, printers capable of making products that are even close to meeting the requirements and quality that come as standard to Lazerthrust customers are not available to purchase.  

Maurice Briggs, Founder and CEO at Lazerthrust said: “This funding comes at a key point in time as we continue to develop our existing products whilst innovating new problem solving equipment. 3D printing is a fantastic solution, as it is limited only by your imagination. The eco benefits are also outstanding. We are extremely proud that a high proportion of our products are recyclable with some of the equipment we produce being 100% recyclable. Working in the marine sector means this is especially important as we are well aware of the damage that man made waste is having on our environment. Our thanks go to Simon and The FSE Group for helping us secure this funding which will enable us to continue pioneering new approaches by developing our products and increasing our staff team.”  

Simon Elliott, Investment Manager, at The FSE Group, added: “Lazerthrust is an exciting company that we are glad to be supporting as they reach into existing markets and provide them with products that offer higher performance and sustainability than those traditionally available to them. Maurice and his team bring a passion for innovation to both the marine and utility company sectors, and the eagerness from leaders in these fields to collaborate with Lazerthrust demonstrates the increasing desire for a fresh perspective. We look forward to seeing the roll out of even more pioneering solutions and are delighted to be a part of the company’s growth journey.” 

The Regional Growth Loan Scheme (RGLS) is managed by The FSE Group on behalf of Local Enterprise Partnerships in the East of England. Loans between £50,000 and £500,000 are available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100,000. The funding can be used for a range of growth activities as well as to service short to medium-term trade and contract finance requirements. The scheme aims to stimulate job creation and economic prosperity and supports SMEs that have the potential to deliver high-growth and employment opportunities across the East of England region.