Homelifts manufacturer Stiltz has received a £1m loan package to elevate the business by allowing it to invest in stock, IT infrastructure and 16 new employees.
Maven Capital Partners is behind the funding, with the money coming from the Midlands Engine Investment Fund (“MEIF”).
Based in Kingswinford, Stiltz manufactures and supplies a range of domestic lifts for people with limited mobility or who are future-proofing in the anticipation of eventual need.
Branded as ‘The Homelift Company’, the business has experienced rapid growth following investment in its expanding product range and an increasing network of domestic and overseas dealers.
The Stiltz management team is headed by chairman and CEO, Mike Lord, who has 25 years’ experience in the healthcare industry.
He said: “We are delighted to have received this funding, which will support our expansion plans as we continue to make our products available to those who need them the most.”
Steve Lewis, investment director at Maven Capital Partners, said:“Stiltz is a well-run business in a growing sector, which manufactures innovative and valuable products to their customers, making a positive difference to their lives.
“With this funding boost from MEIF Maven Debt Finance, the company will unlock several exciting opportunities, further accelerating the firm’s rapid growth.”
Ryan Cartwright, senior manager at British Business Bank, added: “The MEIF continues to support growth businesses in the region, with this latest investment providing vital funding to support the development of infrastructure and enable job creation. It’s great to see the funding making a real and measurable difference to businesses across the Midlands.”