Construction firm 'set to build' with funding boost

A construction firm is laying down growth plans after securing £200,000 support.

Sealability says it will expand its team and services following Midlands Engine Investment Fund II backing.

The blueprint comes after former Sealability tradesman Karl Davies bought the Nuneaton and Aberdare-based business late last year.

Known for concrete repairs and mastic pointing, the firm employs more than 20 permanent staff and works with clients including local authorities, major contractors and housebuilders.

Managing director Karl said: “Having been involved in the growth of Sealability for over 20 years and held numerous roles within the company, I’m excited to be taking over as managing director to lead the business forward.

“The growth of Aberdare has shown the potential to add new services and my first priority will be to apply the same lessons to boost growth at Nuneaton.”

Sealability secured its cash backing through the Midlands Engine Investment Fund II via fund manager Frontier Development Capital.

David Tindall, senior investment manager at British Business Bank, which oversees the £400 million Midlands Engine Investment Fund II, said: “Sealability’s ambitious plans to expand and develop its operations demonstrate a clear commitment to growth.

“We are looking forward to providing the support needed to help turn those plans into reality.” 

Ryan Cartwright, of Frontier Development Capital, added: “Karl knows the business inside out, and is the ideal person to lead its next phase of growth.”

Adam Cooksley, at Navigate Commercial Finance, provided fundraising advice to the company. 

The Midlands Engine Investment Fund II covers the Midlands region and provides equity investment up to £5 million and debt finance from £25,000 to £2 million to small and medium-sized businesses.

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