Cimteq Receives £2.5 m Investment To Support Significant Growth Plan
09 Nov 2018
Foresight Group LLP (“Foresight”) has invested £2.5 million into Cimteq Limited (“Cimteq”). This investment will enable the company to take the next step in its development and expansion over the next few years. Foresight is a leading independent infrastructure and private equity investment manager which has been investing in technology companies for over 30 years.
Ali Shehab established Cimteq in 1998 to provide business software implementation and process control consultancy to the cable manufacturing industry, using his extensive experience and passion for improving productivity and streamlining the manufacturing process, to develop CableBuilder and CableMES.
The company operates from their Head Office in Wrexham, with a global reach, delivering software solutions for the cable manufacturing industry to companies worldwide including Europe, Americas, Middle East, Asia and Africa.
With over half a century of experience in the Cable Manufacturing Industry, Ali Shehab, CEO and Amanda Shehab, Director, will both continue to manage the company with additional senior resource including a highly experienced incoming non-executive Chairman, Bryan Taylor, and a new Finance Director.
Ali Shehab, CEO, Cimteq, says “This is an incredibly exciting time for Cimteq. We have seen the company grow steadily from its conception in 1998. We are thrilled that this investment enables us to take the company into the next phase of development, with huge growth expected in the next few years”.
Amanda Shehab, Director, Cimteq, says, “Cimteq has come a long way in the last 20 years. We want to take this opportunity to thank our current customers, some of whom we have worked with for many years. We build strong relationships with our customers and tailor our solutions to individual customer requirements to ensure that they gain the maximum benefit from our software solutions. This recent development will enable us to build on the high levels of customer service we already provide and enhance our expertise in this sector”.
Matthew Pomroy, Investment Manager, Foresight says “With Foresight’s support and the unique market leading software offering, coupled with the team’s exceptional expertise in the sector, we believe there is significant opportunity to grow Cimteq rapidly over the next 3 to 5 years. We are hugely excited to be part of Cimteq’s journey moving forwards”.
CableMES is a Manufacturing Execution System designed specifically for the cable manufacturing industry to enable manufacturers to more effectively plan, manage and control every aspect of the manufacturing process.
CableBuilder is the world leader in engineering and costing software for the wire and cable industry and is used in hundreds of cable factories worldwide. CableBuilder software was borne out of the demand within the cable industry to simplify the complex management of cable-design data from the initial design concept all the way through to delivering the full bill-of-materials directly to the ERP system.
For more information or to book an online demonstration, please visit www.cimteq.com.
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