ADAM Communication Systems International has secured up to £1.5 million funding from the Capital for Enterprise (CfE) fund.
ADAM Communication Systems International has secured up to £1.5 million funding from the Capital for Enterprise (CfE) fund.
The funding was awarded by Maven, which along with Octopus Investments is joint manager of the CfE Fund. The £75 million government backed fund was launched in 2009 to help small and medium size enterprises in the UK gain access to funding during the credit crisis.
ADAM provides building energy management systems, designed to reduce energy costs and carbon emissions to comply with government legislation. Established in 1990 by MD Steve Dillon and technical director Joe Blower, the Stockport-based company currently employs 45 staff.
The investment is to support Adam’s growth plans, including the recruitment of sales and operational staff to deliver on recent contracts.
Dillon comments: ‘This investment will allow us to implement our growth plans and will deliver the working capital headroom necessary for the fast paced growth we are currently experiencing. Furthermore we will be able to increase our sales presence and target markets outside of our traditional sectors.’
