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Chelverton invests in Fen-Bay

Chelverton Asset Management, an investor in sub-FTSE 100 quoted equities and unquoted SMEs, has completed an investment into Fen-Bay Services.

 
Sleaford-based Fen-Bay is a supplier of loading bay equipment, industrial doors, gates, barriers and high speed doors, undertaking new installations, service, maintenance and repairs for customers across the UK and Ireland.
 
The investment was arranged on behalf of Chelverton’s client, Hockley Capital, which has committed substantial funds to enable the existing management team – led by Carl Sedlan and John Aitken – to invest in its management resource and to further develop a platform from which significant growth is anticipated over the coming years.
 
The investment will also enable the firm to build upon on a well-established culture of product innovation, marked most recently by the launch of Eco-bay, its newly launched, fully patented and environmentally friendly ‘off-grid’ door control system. 
 
The deal value has not been disclosed.
 
Chelverton investment director Richard Bucknell, who led the transaction on behalf of Chelverton’s client, says: “Carl and John have delivered tremendous success at Fen-Bay over recent years, exploiting their deep product knowledge and ‘can do’ approach to business, to deliver market-leading solutions to an increasing range of highly demanding retail and logistics clients. It is to their great credit that they recognised that the potential they had created would only be realised with an experienced partner on board and, in Hockley Capital, they now have a supportive investor who shares their ambition.”
 
Carl Sedlan, managing director, adds: “The last few months has been a steep learning curve, but in spite of the potential distraction of the deal process, Fen-Bay has continued to perform, enjoying its busiest year to date. We have continued to deliver for our customers and, with the support of Chelverton and Hockley, we’re now raring to go for the next chapter in the Company’s development.”
 
Rich Wilkey, who led the Harrison Clark Rickerbys team, along with colleague Chris Cook, says: “We were delighted to be able to support a deal which will provide an excellent investment and enable the growth of such an innovative and dynamic business. We have worked with Chelverton for some time now and look forward to supporting them further.”

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