Chevler
Business profile
Location: South east Wales
Sector: Manufacturing
Web site: www.chevler.co.uk
Investment
First round: £525,000
Type: Equity
Executive: Nick Larcombe
Second round: £160,000
Type: Debt
Executive: James
Henderson
Why we invested
Chevler is a long-established manufacturer of paper baking
cases. The company has a large and loyal customer base and has 40%
market share.
Chevler’s management team had a clear vision for the future of
the company. They first approached Finance Wales in 2009, planning
a management buy-out (MBO). The following year, they applied for a
second investment round to continue their ambitious growth
plan.
Outcome
Chevler’s management team bought the business in 2009 and
consolidated its operations at a single site at Hengoed. The
company developed bespoke equipment to increase capacity.
Chevler invested the second round to expand further by
purchasing new equipment to develop its product range and
increasing its capacity to produce higher-margin muffin wraps.
The company has successfully grown export sales in
Europe and the US.
Testimonials
"Finance Wales continues to support Chevler’s plan to
become a market-leader. We're investing heavily in the business to
continue growth." Stuart Whelan, managing director, Chevler.
"Finance Wales’ investments have enabled
Chevler to move into new markets and expand its production
facilities. This has allowed the company to build a strong
foundation from which to leverage its market leading position."
James Henderson, portfolio executive, Finance Wales.