Transport firm eyes growth with £2.5 million backing

A distribution firm says it is primed to accelerate through the growth gears after securing £2.5 million investment.

Paul Mathew Transport has been backed by the Midlands Engine Investment Fund II.

Bosses at the company – which moves theatre sets and equipment for leading West End shows – say the cash will allow it to “pursue new growth opportunities”.

They add plans could include warehouse expansion, a lighter-load service and a move into new sectors.

The funding comes just weeks after the Evesham, Alcester and Bognor Regis-based operator, which works with clients including the Royal Shakespeare Company and Glyndebourne Opera, was bought by chief executive and managing director Eyal Kaplan.

Eyal said: “I’m truly excited to begin this journey with Paul Mathew Transport.

“I am looking forward to working with the management team to build on the company’s proud legacy and to help shape the next chapter of growth, as we continue to set the standard in live entertainment transportation and warehousing.”

The £400 million Midlands Engine Investment Fund II is overseen by fund manager Mercia Ventures, and offers equity investment up to £5 million and debt finance from £25,000 to £2 million to small and medium-sized businesses.

Shubham Jaipuria, of Mercia Ventures, added: “Timing is critical in the theatre industry, and shows can suffer real setbacks as a result of small delays.

“Paul Mathew Transport has become the leader in its field due to its reliability and expertise, and the growing events market offers opportunities for further expansion.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.