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Maven invests up to GBP1.5m in Adam Communication Systems

Maven Capital Partners as joint manager of the Capital for Enterprise Fund is investing up to GBP1.5m in Adam Communication Systems International, a UK based provider of building energy management systems and associated energy management services.

Adam’s products and services allow its customers to reduce energy costs, carbon emissions and to comply with recent legislation in this area.

The GBP75m Capital for Enterprise Fund is a government backed initiative launched in 2009 to help small and medium size enterprises in the UK gain access to the financial support required to bridge the funding gap caused by the credit crisis. In April 2009, it was announced that GBP60m from the fund would be allocated to two separate GBP30m funds, one of which is managed by Maven. A further GBP15m is being managed as a co-investment fund by Capital for Enterprise Fund Managers.

The investment will support Adam’s growth plans, providing working capital for the continued increase in sales of its BEMS products and services, in addition to the recruitment of additional sales and operational staff to deliver on several large contracts which the company has recently won.

Steve Dillon, managing director of Adam, says: "This investment will allow us to implement our growth plans and will deliver the working capital headroom necessary for the fast paced growth we are currently experiencing. Furthermore we will be able to increase our sales presence and target markets outside of our traditional sectors. The CfE fund’s investment was ideal for Adam at this exciting stage of our development and the team at Maven have been extremely supportive of our plans. I am confident that the next 12 months will be the most significant in the company’s 20 year history.”

Ryan Bevington, senior investment manager at Maven, adds: “Adam is an exciting business which has recently developed new technology providing cost effective and reliable wireless building energy management capabilities. The products have been well received in the market and this investment from the CfE Fund will help the team achieve their sales targets. This again demonstrates the value of the CfE fund in supporting ambitious UK businesses like Adam.”

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