The Company and Our Investment
In March 2010, Octopus invested £1.8 million from the £30 million Octopus Capital for Enterprise Fund (OCfE) into LEEC, based in Nottingham, which is the UK market leader in the design and manufacture of mortuary products. The investment will allow LEEC to continue to develop new products, expand into new geographical markets and provides a solid platform for future growth.
The Company provides a full turnkey solution to a variety of customers in the mortuary sector including the NHS, local authorities, universities and funeral directors, offering a unique service which includes consultation, design and manufacture along with ongoing maintenance and servicing. The company also designs and manufactures innovative laboratory products.
The transaction was led by the MD Paul Venners who throughout his 21 years at the Company has been instrumental to the growth and development of the business.
"We're looking forward to working with Paul in the next stage of the company's development. We've been impressed by the company's strong trusted relationship with its UK mortuary customers. Our funds will help to ensure that the company remains the market leader in this niche." "In addition we're already working closely with the team to ensure that we both translate the excellent product development of the laboratory division into revenue and accelerate overseas sales of all the products."
Stuart Nicol, Investment Director, Octopus Ventures
