MSIF Funding Package Mixes Recipe of Success for Nurock

12th February 2008

A company which has developed an innovative hyrdraulic concrete mixing system is expanding with a funding package of more than £360k including support from Merseyside Special Investment Fund (MSIF).

Nurock Limited, based in Garston, has developed a process which controls the volume of each different ingredient used to make concrete. At the push of a button the amount of the various ingredients can be changed allowing different types of concrete to be produced. The patented, computer-controlled system is quicker and more energy efficient than any existing machinery and produces a high quality product.

The company has raised a funding package totalling £368k which includes £200k from MSIF’s Liverpool Seed Fund, £50k from MSIF’s Small Firms Fund, an NWDA GRAND (Grant for Research and Development) grant and directors’ own investment.

MSIF has appointed the highly experienced Royan Anthony, former managing director of Rolls-Royce’s Compressor Systems, as non executive director. Nurock has been assisted throughout the funding process by Lorna Green of Liverpool Ventures and she continues to work with the company.

The business was set up by directors Graham Jones and his father, Anthony Jones in 2000.

Managing director, Graham Jones said: “Traditionally, concrete mixers just carried the pre-mixed cement but our mixers allow a variety of concretes to be mixed on site. We have refined the process over the years and are now ready to begin manufacturing the machines. We have already sold a couple of mixers and now have orders for more.

“The funding has enabled us to move to new premises which will house the manufacturing facility. This expansion means we are now in a position to market the mixers and broaden our customer base.

“Royan’s appointment is a great boost and his experience will really help us drive the business forward.”

Liverpool Seed Fund investment manager, Mike Bakewell said: “Nurock is an excellent example of how businesses can innovate to develop their existing processes and create a whole new market for themselves.”

Small Firms Fund investment manager, Alan Birkett said: “Graham has been developing his idea for quite some time and his determination and drive are admirable. We believe the business will do very well and we are pleased to be supporting Nurock.”

Lorna Green of Liverpool Ventures said: “We are confident that there is a good market for Nurock’s machines and we will continue to work closely with the company throughout the commercialisation process”

Nurock currently employs six staff and this is expected to increase to 15 over the next three years.

Legal advisors involved in the transaction were Mark Foreman of PFK for Nurock and Lynn Rathbone of Weightmans for the Liverpool Seed Fund.

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 L-R – Graham Jones (Nurock) Alan Birkett and Mike Bakewell (MSIF) Anthony Jones and Royan Anthony (Nurock) Lorna Green (Liverpool Ventures)

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