CNC equipment maker Altec received $9.3m from Business Growth Fund and returnable transit packaging producer PPS $7.4m.
Business Growth Fund (BGF), the UK growth equity fund backed by the country’s ‘big five’ banks, has invested a total of £10.9m ($16.9m) in two UK-based companies.
Altec Engineering, which produces computer numerical control (CNC) equipment for automotive, aerospace, mining, defence and oil & gas companies, received $9.3m. It will use the funding to support growth, including the acquisition of CNC engineering company Ronco Engineering.
BGF also invested $7.4m in environmentally friendly returnable transit packaging supplier PPS, which partially used…
