Growth Capital
Coventry Chemicals has announced record-breaking revenues of over £23m, an increase of 30% over three years following a period of significant investment in new plant and machinery. Building on this success and to reflect its ambitious growth plans in the UK and internationally, the business has unveiled a new identity, Mirius.
Playing a pivotal role in Mirius’ performance in recent years has been Finance Birmingham's £1.75million investment in 2014; used to help optimise its productions process, Mirius was able to automate its high-speed packing lines – increasing their filling capacity to over 30million.
In recent years, it has diversified its service offering by developing its in-house bottle sleeving capabilities; making it the first in the market to offer the service. Further enhancements to the production lines has led to an expanded product range, including personal care products, allowing the firm to maximise relationships with customers including Aldi, Waitrose and Lidl, as well as embarking on licensed co-representation deals with the AA, JCB and the RSPCA.
Steve Quinlan, C.E.O. of Mirius, said:
“We’re now perfectly positioned to seize emerging opportunities in our industry, as well as cater for increasing demand for our services, as more customers realise the value in efficient, high quality production. The launch of our new name Mirius shows the world what we truly offer in terms of innovation, commitment to regulatory excellence and environment-friendly production. This, combined with the investment and on-going support received from Finance Birmingham, will see us continue to move from strength to strength in the coming years.”
Clive Broadhurst, Portfolio Director at Finance Birmingham, commented:
“Success stories like Mirius demonstrate how flexible investment can support a business’ strategy, providing capital to invest in new products, services and innovation - increasing their competitive advantage, even in challenging market environments.
“The management team is full of passion, ambition and skill and this will no doubt ensure the firm continues to capitalise on new and exciting commercial opportunities.”
