Sector Focus
Eyoto has eye on the future
A Birmingham optometry manufacturer is – literally – eyeing up expansion following £2.5m investment. The investment will help
tele-optometry maker Eyoto to expanding its research and product development. The cash is coming from Midlands Engine Investment Fund (MEIF) WM Equity Finance Fund, managed by venture capital firm Midven. Launched in 2013 from an
Aston University School of Optometry project, Eyoto has been involved in the ground- breaking development of technology that has transformed traditional optical health services. The £2.5m investment will
be used to develop existing product ranges and allow the company to create new skilled jobs in Birmingham and globally to ensure Eyoto has a widely talented team able to conduct the intensive research and development required to produce its revolutionary health products.
Manufacturing
Manufacturer eyes growth in Europe
Automotive components manufacturer Sertec Group is aiming for European growth following a further £4m investment from growth capital investor BGF. Since BGF’s initial investment in 2016, Sertec has
expanded its customer base, invested in new technologies and established a strong European footprint through acquisitions and new hires. Over the past year, Sertec has secured significant
new contract wins in the electric vehicle (EV) and lightweight technology markets using its engineering expertise and innovative technology know how. The company has also completed a battery
component assembly line in Coleshill. Grant Adams, CEO at Sertec, said: “We’re ambitious
about continuing to grow the company and BGF’s additional investment allows us to build on the strong foundations we’ve put in place. “We start 2021 with a strong balance sheet and
exciting growth prospects in Europe underpinned by our recent hires. “Juergen Schreiner joins as European sales director
and Antal Mihalicz has been appointed managing director in Sertec’s Hungarian operation. “Our technology positions us at the forefront of the
sector to take advantage of the huge potential presented by the growing EV market in the UK and Europe.”
Grant Adams: building on strong foundations This investment news follows the appointment of Nick
Sanders as non-executive chair in May 2020. BGF investor Tom Horton said: “BGF’s renewed
commitment to Sertec is testament to the strength of the business’ leadership and ongoing investment in new technologies. “In a very challenging year, the company has
continued to secure significant, long-term contracts as it expands its customer base. We look forward to working with the team in its next chapter of growth.” Sertec Group Ltd operates across eight sites, with six
manufacturing sites in the Midlands in the UK, one manufacturing site in Aszar, Hungary and one in Hückeswagen, Germany, plus a tooling technical centre based in Dongguan, China.
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