Monday, 25 Feb 2019 11:54 GMT

Print firm secures Midlands Engine Investment Fund

Lincoln-based print firm YPP Group has secured a £1m investment from the Midlands Engine Investment Fund (MEIF) to launch its new custom gifts subsidiary.

The investment comes after the print company, which supplies a range of print and graphic design services, from concept creation through to printing, finishing and delivery, received a £1m investment from private equity investment firm, Foresight Group.

As well as expanding business to provide its custom gifts subsidiary, the firm plans to use the money to build brand awareness and create an additional seven local jobs within the first 12 months following the investment.

Despite raising a small sum through crowdfunding, YPP Group needed a much higher figure to successfully implement its business plan. Speaking exclusively to CityX, Stuart Maclaren, YPP Group’s managing director describes the process of applying for an investment from Foresight.

With banks so unwilling to lend, you have to explore all avenues if you want to secure substantial funding

Maclaren says: “Over the course of six months we went through a wide range of investment raising options, from crowdfunding through to overseas venture capitalists. With banks so unwilling to lend, you have to explore all avenues if you want to secure substantial funding.

“The initial process was easy to ensure the company would be eligible and then from there, many weeks of due diligence and legal process took place to ensure that Foresight fully understood the business, how it operated, what we do and where the money should be spent.”

Following the investment, Maclaren, who is currently the only director, is recruiting for a board of directors who will oversee and support the business as well as his own development.

The Midlands Engine Investment Fund project is financially supported by the European Union using funding from the European Regional Development Fund.

If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter.