Furniture maker ACL secures new MEIF capital to expand product range
Image: Collected
A Black Country furniture manufacturer has secured a new £500,000 funding package to help it broaden its product range.
Dudley-based ACL designs and makes bespoke fabric and leather sofas and chairs, supplying into major furniture retailers.
This fresh round of funding will be used to progress its product development plans and support the launch of its new reclining chair range.
The capital has been provided by part of the Midlands Engine Investment Fund which is managed by Maven Capital Partners.
ACL's chairman Craig Watts said: "As our business is in the process of launching new products to market, we are delighted to receive financial support from the MEIF and Maven.
"The funding will no doubt bring us one step closer at achieving our ambitious growth targets.''
Maven's investment manager Chris Rogers added: "The business was impacted by the effects of covid-19 but has remained strong by seizing opportunities for growth as the country recovers from the pandemic."
Dudley-based ACL designs and makes bespoke fabric and leather sofas and chairs, supplying into major furniture retailers.
This fresh round of funding will be used to progress its product development plans and support the launch of its new reclining chair range.
The capital has been provided by part of the Midlands Engine Investment Fund which is managed by Maven Capital Partners.
ACL's chairman Craig Watts said: "As our business is in the process of launching new products to market, we are delighted to receive financial support from the MEIF and Maven.
"The funding will no doubt bring us one step closer at achieving our ambitious growth targets.''
Maven's investment manager Chris Rogers added: "The business was impacted by the effects of covid-19 but has remained strong by seizing opportunities for growth as the country recovers from the pandemic."
Source: https://www.business-live.co.uk
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