Pictured above: (from left to right): Richard Radford
(Managing Director, BPR Medical), John O'Reilly (emda, Business
Support Director), Robert Cawdron (E-Synergy), Tom Gray (Berryman),
Tom Mawhood (Turning Point Investments), David Peel (BPR Medical,
Engineering Director)
BPR Medical, a Mansfield based medical devices company, has
secured £500,000 investment from the newly formed Turning
Point Investments fund in conjunction with the East Midlands
Development Agency (emda) backed East Midlands Early Growth Fund.
The deal will see the company drive forward with very ambitious
plans.
BPR specialises in the manufacture of a range of oxygen therapy
and medical gas control products for use in hospitals, ambulances
and homecare applications throughout the world.
The company recently won the prestigious Healthcare and
Bioscience Innovation Award at the Medilink East Midlands Awards
for its FireSafe™ product group. David Peel, Engineering
Director of BPR, received the award on behalf of the company from
Richard Farleigh - famous for his role as a Dragon on BBC's
'Dragons' Den' programme.
Richard Radford, Managing Director at BPR, commented: "This
investment gives BPR Medical a significant boost that will allow us
to develop much more quickly over the coming years and build on the
successes BPR has enjoyed to date.
"The investment was a result of the introduction by Berryman our
Nottingham based solicitors to Turning Point Investments, who
subsequently agreed to co-invest with East Midlands Early Growth
Fund."
Tom Gray, Associate in the Corporate team at Berryman who acted
for BPR on the deal, added: "BPR is a fantastically successful
growing business in this sector. When we knew that BPR was looking
for suitable investment partners we had no hesitation in
introducing them to Turning Point Investments. Berryman recently
advised on the establishment of the Turning Point Investments fund
who are well suited to investments of the size and nature that BPR
was seeking."
The investment represents the first sizeable transaction
completed by Turning Point Investments following its formation. The
newly formed private investment fund aims at supporting quality
small and medium sized businesses throughout the East
Midlands.
Tom Mawhood of Turning Point Investments said: "BPR is a great
business and we were immediately struck by the drive and energy of
the BPR management team. This investment represents the first
sizeable investment by Turning Point Investments and demonstrates
that we are ready, willing and able to support sound, thriving
business propositions in need of development and support in these
challenging times."
The transaction also represents the largest single investment to
date in one company by the East Midlands Early Growth Fund, which
is backed by emda.
Robert Cawdron of Fund Manager E-Synergy commented: "The East
Midlands Early Growth Fund's investment in BPR is significant as it
currently marks the Fund's biggest single investment yet. This
truly demonstrates our confidence in the BPR management team to
take the business on to even greater levels of success in the
development and sale of its world class medical products."
John O'Reilly, Business Support Director at emda, said: "BPR
Medical is just the kind of business that the Early Growth Fund was
set up to support. It is an innovative company which has tremendous
potential and I am sure that, with this funding, the business will
be able to develop and expand more quickly than it would otherwise
have been able to."
Deborah Martin of Geldards LLP in Derby, acted for the investors
and Connect Midlands also actively supported the investment.
For more information about the range of funding that is
available from emda to support businesses, visit
www.emda.org.uk/funding
Berryman is a Midland's law firm based in Nottingham, which
provides an extensive portfolio of legal services within four key
areas: Business Services, Property & Construction, Insurance
Services and Private Client. It employs over 120 people and has 17
partners.