>Wind turbine installer and maintainer Earthmill has the finance it needs to grow its fleet of wind turbines after pocketing £4.1 million of growth capital.

Connection Capital has led the transaction, a deal which represents its largest to date since the firm set up in 2010. The new backer’s framework allows clients to invest directly in private companies as part of an organised syndicate.

Yorkshire-based Earthmill is reportedly one of the largest installers of turbines in the UK, with 125 set up so far.

Its £4.1 million equity investment will be used to speed up its expansion plans and partner with turbine manufacturer Endurance to grow its wind turbine fleet.

Steve Milner, founder and managing director of Earthmill, says that the investment has come at a great time for the business.

‘The agriculture turbine market is very active as landowners have started to see the very real cost savings and revenues that green energy production with a modern turbine can offer.’

Earlier in the year, Earthmill began its national expansion by acquiring the wind energy division of Bristol-based TGC Renewables.

Bernard Dale, partner at Connection Capital, says, ‘Earthmill is a great business led by an excellent management team, which has gained a strong foothold in a market very early.

‘We invest in strong management teams, with robust business models, and Earthmill has demonstrated its appetite to lead the sector with impressive progress to date.’

Connection Capital has £150 million of assets under management across 45 individual investments and has achieved exits including Atlantic Foods and Hoxton Hotel.

Commenting on how much appetite there has been for deals led by Connection Capital, clients partner Claire Madden adds, ‘Investor sentiment has greatly improved over the course of 2013 and consequently this investment was oversubscribed.’