Two Wests & Elliott manufactures and supplies greenhouses and related gardening products, tools and equipment, propagation supplies, cold frames and cloches, by mail order.

The company was formed some 30 years ago by Christopher and Josephine West, who sold the business to a larger national organisation in 2000. The company's website, launched in 2001, offers more than 2,000 products and it publishes three customer catalogues each year.

Managers, Peter Bennett and Lucie Bradley, were given the opportunity to take shared ownership of the company through a management buy-out and approached the investment team at EV following advice from their corporate finance advisor. Following the usual due diligence process, the Funds agreed to provide investment as part of a funding package alongside the company’s bank and contributions from the management team.

Thermilate Europe Limited is the worldwide distributor, with the exception of North America, of an insulating paint composite marketed under the Thermilate brand name.

The product, which uses technologies developed by NASA for the US Space Shuttle Programme, is proven to reduce energy costs through its insulating properties, as demonstrated by extensive testing and numerous accreditations, including Energy Star Partner, the worldwide accreditation body for energy saving products and ISO 9002. The product is highly effective in both internal and external applications and can be used anywhere paint and coatings can be applied. It therefore has a wide potential market and a variety of applications in all geographies and climates, currently including storage tanks, gas holders, hotels, houses, offices, warehouses and refrigeration containers.

The Directors approached the investment team at EV after discussions with their legal advisors. The investment provided by the Funds enabled the company to relocate its operations into an eligible coalfields ward in Yorkshire and to expand its sales force and associated support staff. The investment also provided funding support to enable full distribution and marketing to global markets, as well as providing ongoing working capital requirements.

CoreRFID Limited provides radio frequency identification (RFID) and barcode technologies across a range of industry sectors. Its systems are used within a wide range of applications and deliver cost effective solutions to many logistics and asset tracking situations. Its customer base includes Nokia, BAA, the BBC, Thames Water, the Channel Tunnel and Norwich Union.

The investment provided by the Coalfields Funds formed part of a funding package alongside the company’s bank and its management team to assist the management buyout of the business from the previous family owners.

As a result of the investment, the company relocated its operations into an eligible coalfield ward, creating additional employment in the region, as well as allowing the company to offer its new and existing customers a wider range of RFID products and services.

The company provides automated payment transaction services to SMEs and high net worth individuals for domestic and foreign currency.

Following a referral from the company’s corporate finance advisor, and further investigation of the business plan, the investment team at EV identified that the marketplace for both domestic and international payment transfers was to go through significant commercial changes. The team believed the company was well placed to take full advantage of the opportunities the changes would bring and, following negotiations, the Funds provided investment, as part of a larger funding package, alongside the bank and the company’s management team. A commitment for further tranched monies was also made at this time, to be invested against a number of development milestones.

The Funds’ investment was used to provide development and working capital to the business and to enable it to relocate its sales base from London to premises in St Helens, Merseyside, which resulted in ten new jobs being created in the region.