TR Fleet, one of the UK’s leading fleet management specialists celebrated its second anniversary with confirmation of a £300,000 investment by Birmingham based venture finance company Midven.
(left to right) Midven’s Toby Harper, John Slaughter and Tony Stott pictured with Jo Ewen, Commercial Director and Julie Boyd, Managing Director of TR Fleet.
The potential of the independent, award winning fleet services provider based in Berkswell near Coventry, was identified following their selection in the prestigious Goldman Sachs ’10,000 Small Business’ initiative designed to support small businesses and help them grow.
Julie Boyd, Managing Director of TR Fleet so impressed the panel of judges, one of whom was a director of Midven, that the company decided to award her the finance at the very start of the 12 month mentoring process.
“I am absolutely thrilled,” she said. “The funding will really help me to develop TR Fleet and it will be a bonus to have the benefit of expert advice from such skilled professionals.”
Julie founded TR Fleet in 2010 after spotting a gap in the market for a unique long-term road safety scheme.
More than 850 drivers are now enrolled on TR Fleet’s comprehensive ‘DriveSecure’ programme.
Tony Stott, Chief Executive Officer, Midven said: “We were all really impressed with Julie’s enthusiasm and professional approach and have every confidence that with our support, her ambitious plans will be become a reality.”
Julie and her team of five highly experienced specialists have also tripled turnover and recorded record profits in their first two years of business.
[otw_is sidebar=otw-sidebar-1]
Midven Limited is a privately owned commercial fund manager with a successful track record of investing in small and medium-sized enterprises in the Midlands. Midven manages five funds representing £61m under management. The funds have invested in a wide variety of sectors, including software, biotechnology, healthcare, engineering, manufacturing and distribution.
The £18.4m Exceed Fund was established in December 2009 to invest in high growth businesses in the West Midlands. It became operational in March 2010 when LDC became an investor in the Fund. The Exceed Fund can invest up to £750,000 in a range of sectors to support expansion and development. Managed By Midven, its investors include Lloyds Development Capital, Advantage West Midlands and the European Regional Development Fund.