ACE Secure Small Loan Fund Investment

The team at ACE are delighted to announce the backing of a five-figure investment after working with regional fund management firm NEL Fund Managers to secure a £95,000 Small Loan Fund investment.

Having now brought our operations fully up to speed through 2021, this new investment allows us to secure additional supplies of raw materials and facilitate bigger projects through the coming years as our client base continues to grow across the North East and overseas.

In addition to this new funding, our 11-strong team, is expected to grow even further before the end of the year with the creation of two new roles to help deliver our ambitious growth plans for the 2022 and beyond.

Director Don Robinson said: “Being able to retain the great majority of the customers that we previously worked with says a great deal about the team’s reputation and the quality of service that we’ve always looked to provide.

“Having ready access to the supplies of raw materials we need is crucial to maintaining this reputation, and as we look to grow the business, we’re going to need to increase the stocks that we’re holding.

“This obviously requires a significant amount of capital, but having the North East Fund investment to hand means we’ll still have resources available to direct towards other parts of the business.

“We’ve already got a number of big projects in the pipeline and feel confident that growing our turnover by twenty per cent in the coming year will be well within our grasp.”

Mike Guellard, investment executive at NEL Fund Managers, said: “Advanced Composites Engineering may be a relatively new business, but its management team has unrivalled experience within its sector, as well as the knowledge and drive required to build on the progress they’ve made this year.”

The £9m North East Small Loan Fund offers loans of between £10,000 and £100,000 to businesses in Tyne and Wear, Durham and Northumberland. It forms part of the £120m North East Fund which aims to provide financial support for more than 600 businesses, creating around 3,500 jobs and delivering a legacy of up to £80m for further investment into the region. Find out more by visiting the website.