Sylvan Enterprises has received a £500,000 loan through the Midlands Engine Investment Fund, ESEM Debt Finance fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS), managed by Maven.
The furniture design business will use the capital injection to expand its market reach and enter new markets including residential care and educational facilities, as well as strengthen its existing customer relationships within the hotel and hospitality sector.
Sylvan specialises in the manufacturing of contract furniture where it coordinates with a range of interior designers, architects and specifiers throughout the design and manufacturing process.
The business has operated within the contract furniture sector for over 25 years and supplies mainly to the hospitality and hotel sectors. The business supports a number of well-known Hotel brands including Hilton, Accor, IHG, and Bannatyne Health Club and Spa.
Following a recent management buyout, Sylvan is led by an experienced and knowledgeable management team including Managing Director, Pete Fowler, Commercial Director, Amanda Page, Operations Director, Tony Lindsley, Production Director, Chris Goff and Factory Director, Nick Fowler, who have over 70 years of commercial and production experience combined.
Richard Brighty, Investment Manager for Maven adds: “Sylvan is a well-established, successful niche manufacturing business demonstrating consistent growth despite the strong headwinds in the hospitality sector throughout the pandemic. It has been a pleasure to work with the new management team at Sylvan and support its continued growth into new markets.”
Amanda Page, Commercial Director for Sylvan Enterprises comments: “After what has been a very challenging year, this finance will enable Sylvan to venture into new markets with confidence, knowing that we have the capital behind us to do so. It has also enabled us to take on two larger projects in 2021 with the full knowledge that cash flow will not cause any issues during the early stages of both projects.’’