Sovex Keep Business Moving With £400k Expansion Package

17th March 2007

A Wirral-based company specialising in parcel handling and vehicle loading conveyors is expanding with backing from Merseyside Special Investment Fund (MSIF).

Sovex Limited was set up in 2002 and is one of the UK’s leading material handling specialists. The company’s UK and Europe-wide customer base includes blue chip clients Royal Mail, Parcel Force Worldwide, Freemans Catalogue and UPS.

Sovex originally specialised in the refurbishment of old machinery but now designs and manufactures its own models.

The company is run by directors David Lindfield and Malcolm Dooley who have over 50 years’ experience between them in the conveying industry.

Sovex, has raised funding in excess of £400,000 including a £144,000 loan from MSIF’s Small Firms Fund and support from Barclays and directors’ own investment.

Managing Director David Lindfield said: “We offer our customers a complete service including installation and maintenance and also offer a hire service, which is more cost effective for customers who only need the machinery to meet peak or seasonal demands.

“The past 12 months have seen the business develop rapidly and we have won major new contracts with Parcelforce and Home Delivery Network. This has resulted in the need for additional staff and premises – the money from MSIF has already enabled us to recruit 10 new staff. In addition to finance MSIF have also provided crucial support through their mentoring programme.”

Paul Humphray, investment manager of MSIF’s Small Firms Fund said: “Sovex is an established name in the marketplace and already has a solid customer-base. The company is run by an experienced and dedicated management team and we are pleased to be supporting them through this growth phase.”

Sovex currently employ around 30 staff and expect to take on a further 10 this year.

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

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Pic shows L-R Malcolm Dooley (Sovex) Paul Humphray (MSIF) David Lindfield (Sovex)

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