A new £3.5m investment into industrial services and engineering platform Advantiv represents the largest-ever deal made through the £130m Investment Fund for Wales.
Launched in 2023, the investment vehicle was created by the British Business Bank in line with its mandate to improve access to funding for companies across the whole of the UK.
Investment Fund for Wales delivers its investments through three appointed fund managers, BCRS Business Loans, FW Capital and Foresight Group.
The fund has made 102 investments into Welsh businesses to date, with Advantiv’s new round, made by Foresight, marking the largest single deal made through the fund.
“This record £3.5m investment by Foresight through the Investment Fund for Wales is a fantastic way to mark the fund’s success as we move into its third year. It highlights how the IFW is backing ambitious Welsh businesses to grow, innovate and compete on a larger stage,” said Bethan Bannister, senior investment manager at the British Business Bank.
“Over the past two years, the fund has gone from strength to strength. We are incredibly proud to see how the Investment Fund for Wales is helping to nurture home-grown talent, attract private investment and drive sustainable economic growth throughout the country.”
Advantiv provides a broad portfolio of engineering products, technical site services and procurement solutions to clients cross the commercial, industrial and manufacturing sectors.
“This investment will support us in recruiting and developing high-calibre staff across sales, commercial and operational roles to build on our South Wales base. Strengthening our team will enable us to execute our growth strategy more effectively while maintaining high standards of service and delivery,” said Andy Burgess, director at Advantiv.
“Our plan includes opening more locations to provide more local service support across the UK, which will enable us to expand our presence in existing markets and pursue new growth opportunities.”
