AME Group has raised a total of £1.25m from NPIF – Mercia Equity Finance, following a further £500k fundraise.
The Sheffield company designs products for consumer brands, including Jaguar, Vax and Hornby Railways and launched its 3D product printing service last year, supported by £750k from NPIF.
It currently produces components for clients in the aerospace, defence and the luxury yacht market.
This latest cash injection will help it expand its service and target new markets.
“3D printing is catching on quickly as it enables companies to shorten lead times by manufacturing small batches in the UK, test new product ideas and respond rapidly to market trends,” explained CEO, Rich Proctor.
“Many businesses are also looking to redesign their existing products to reduce cost or make them more sustainable. And overall, there is a greater appreciation of products and their ability to differentiate a company in the market, rather than relying solely on digital assets.”
AME Group was founded in 1998 by Finance Director, Ian Jones. It employs 28 staff, with plans to create 10 new jobs over the next 2 years.
“AME Group is recognised as one of the leading product design specialists in the UK and it is now establishing itself as a specialist in 3D print production. This latest funding will enable it to meet growing demand for its services,” added Maurice Disasi of Mercia.
NPIF Mercia Equity Finance, is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF).
