Gateley Plc have advised Foresight Nottingham Fund LP on its £1.5 million investment into East Midlands-based gas spring manufacturer, Camloc Motion Control Limited.
Camloc, which is a leading Leicester based designer and manufacturer of gas springs and dampers, was previously owned by American investors. It has sales of £4m and employs 36 people. Sales and Marketing Director Andy Hubbard, Finance Director Julie Barker, and Engineering Director Matt Warne, have invested alongside Foresight. RBS have also provided a term loan and working capital facilities.
The experienced team are excited about the future, with new products already in development and plans for future growth of the business well underway.
“UK manufacturing is very much alive and kicking and the Foresight investment has enabled us to become a British owned gas spring company for the first time in over 25-years,” said Andy Hubbard. “Over the years Camloc gas springs has become a respected brand in the market that stands for quality products and great customer service. We are proud to have such a solid business, international brand and quality product range on which to build. We are looking forward to a new and exciting chapter of sustained growth for the company based on the company’s wellestablished roots.”
The deal was led by Corporate partner Mark Rutherford and Senior Associate Victoria Elliott from Gateley’s Nottingham office, assisted by Solicitor Liz Mills.
Commenting on the deal Mark said: “We are delighted to have advised Foresight on another successful completion for the Nottingham fund.” For more information about our Corporate services contact: Mark Rutherford, Victoria Elliot or Liz Mills