100k Backing Boosts Wirral Technology Co.

29th January 2007

A Wirral technology company has clinched a deal with a US-based global player of leak detection products and automated test equipment, Cincinnati Test Systems Inc (CTS) with help from Merseyside Special Investment Fund (MSIF).

Integrated Modular Control Systems (IMCS Ltd) has received a finance package totalling over £100,000 which includes a £40,000 loan from MSIF alongside investment from HSBC and directors’ own investment.

Father and son team Patrick and Gary Joyce set up the company which services the electrical controls market specialising in leak detection systems and process control systems.

A Europe wide customer base includes global giants in the automotive, white goods, pharmaceutical, medical and packaging sectors.

Director Gary Joyce said: “The finance package we received from MSIF and HSBC was crucial in allowing us to secure the exclusive contract with CTS. We were able to promise that the resources, such as key personnel, would be available to cope with the increase in demand following the contract being agreed. IMCS will now sell and service CTS’s leak testing equipment in Europe, making us their sole European service base.”

Alan Birkett, investment manager of MSIF’s Small Firms Fund said: “We were pleased to have supported IMCS and are delighted to have been able to play a part in the new US-partnership. The company is run by an experienced management team with an in-depth knowledge of a specialised marketplace and deserves to do well”.

IMCS was established in 2000. Turnover is expected to reach over £900k over the next three years and management expect to create nine new jobs over the same period.

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040 or Angela.White@msif.co.uk

Ends

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Photo shows - Alan Birkett (MSIF) Jason Moorcroft and Chris Bell (iXpert)

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