Product improvement consultancy secures NPIF funding
Pictured (LR): Bart Simpson, Maurice Disasi, Ian Jones, Paul Howell, Rich Proctor and Mike Kneafsey
A Sheffield company that develops products for a variety of consumer brands has raised £ 750,000 from NPIF – Mercia Equity Finance – which is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF).
AME Group is a product development consultancy that works with brands such as Hornby Railways, Vax, Jaguar, Smith & Nephew Medical Equipment, Harris Brushes and B&Q Performance Power Tools
The company, located on the site of the former Dinnington Colliery, currently employs over 20 people.
The AME Group will use the funds to create jobs and invest in new equipment to support their growth.
In recent years, the company has also seen growing demand for its rapid prototyping service, which ranges from creating one-off models for testing to small-batch manufacturing of high-quality products such as marine components and medical equipment. The company now plans to expand its range of 3D printing and small batch production equipment.
Founder Ian Jones, who is now the AME Group’s Chief Financial Officer, said, “Technologies like 3D printing have opened up new possibilities in product development and testing. As a result, the rapid prototyping market is growing year after year for companies to benefit from the “boom” after Covid and longer-term growth in demand. “
Mercia’s Maurice Disasi added: “AME has delivered a strong performance since its inception and established itself as a leader in its field. As the company enters a new phase of growth, this funding will enable it to capitalize on the exciting opportunities in the rapid prototyping market, expand its customer base and develop its own branded products. “
Lucy Holroyd from Schoffield Sweeney advised AME on the investment. Caroline Walker and Gareth Saynor from CMS provided legal advice to Mercia.
The Northern Powerhouse Investment Fund project is financially supported by the European Union with funds from the European Regional Development Fund (ERDF) as part of the growth program of the European Structural and Investment Funds 2014-2020 and the European Investment Bank.
