Husband and wife team secure funding to acquire wire mesh business
A Stourbridge husband and wife team have bought a wire mesh business following a £80,000 funding boost from business funding company UKSE’s West Midlands team.
Cameron and Elizabeth Wakeman have bought the business from David and Debbie Walters on their retirement.
Established in 1975, Midland Wire Mesh Ltd, based on Lodgefield Road in Halesowen is an industrial wire mesh manufacturer serving sectors including construction, gardening, drainage, and the pet industry.
Cameron has more than 14 years of sales, marketing and management experience of the metal industry, in businesses including Midtherm, Servosteel and Intec Laser Services.
A phlebotomist at Guest Hospital NHS in Dudley, Elizabeth will be responsible for the company’s finance and business marketing.
Rather than obtain funding from mainstream lenders, Midland Wire Mesh was introduced to UKSE by Birmingham based Central Business Finance.
In addition to the £80,000 UKSE funding, a further £95,000 was provided to support the purchase by West Midlands and Wales based lender BCRS Business Loans.
Cameron said: “We have always wanted to run our own business and when the opportunity came about, we were keen to make it happen.
“Our aim is to grow the business and focus on diversifying into new markets including racking, pet care, safety and architectural.”
UKSE Regional Executive Mike Lowe added: “Midland Wire Mesh are a great example of a Midlands manufacturing business looking to grow through investment and innovation.”
To date, UKSE has invested over £115m, supporting 8,000 businesses, stimulating the creation of an estimated 83,000 new jobs.
