Control firm secures funding after contract win

An industrial services company is set to expand after securing new funding.

Solihull-based Controlsforce has secured a £250,000 loan from the Midlands Engine Investment Fund II via Frontier Development Capital, to “maintain” the growth of its specialist controls business. 

One of four companies in The Force Group, Controlsforce has doubled turnover in the past two years and recently secured a global contract with a leading semiconductor manufacturer.

Bosses say the funding will support development of a service designed to help chip makers and data centres monitor the efficiency and reliability of their plants, as well as investment in new processes, higher stock levels and the creation of three additional jobs to support the growing demand.

Marc Bozdogan, director of The Force Group, which he founded in 2009 and now employs 30 people, providing industrial products and services to manufacturers, facilities managers and NHS hospitals, said: “Controls are key to the way industry works today. 

“Whereas 20 years ago engineers mainly focused on mechanical repairs, today machinery is remotely monitored so trends can be analysed and any faults detected and fixed before a breakdown occurs. 

“We are specialists in industrial control and monitoring and are constantly developing our services. 

“The funding will help us to maintain our growth and establish Controlsforce as the leading independent of its type within the region.”

Raj Minhas, investment manager at Frontier Development Capital, added: “High-tech industries which require carefully-controlled environments are creating demand for specialist support services. 

“Controlsforce has been quick to seize the opportunity and, as a result, has won projects worldwide. 

“We are pleased to support Marc and the team with the finance they need to support their rapid expansion.”

The £400 million Midlands Engine Investment Fund II, operated by the British Business Bank, provides debt finance of £25,000 to £2 million and equity investment up to £5 million to help Midlands-based small and medium-sized businesses start, grow or innovate, aiming to boost sustainable economic growth, increase early-stage funding availability and improve access to finance for firms that might otherwise miss out.

David Tindall, senior investment manager at the British Business Bank, added: “This investment from the Midlands Engine Investment Fund II demonstrates how important access to finance can be. 

“From enabling growth and expansion to supporting businesses to adopt green technology, Controlsforce has a clear vision for its future and the wider industry. 

“We are pleased that the Fund is playing a role in helping them realise that vision and drive meaningful progress.”

Paul Basil, from Birmingham & Solihull Growth Hub, provided fundraising advice to Controlsforce.

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