ThinCats provide £3m funding for scientific manufacturer’s global expansion plans
Alternative lender to mid-sized SMEs, ThinCats, has supported H.E.L Group (H.E.L), an innovative scientific instrument and software manufacturer, with a £3m refinance and working capital funding package.
H.E.L develops and manufactures scientific instruments and software designed to optimize the efficiency, safety, and productivity of critical processes in chemistry and biology applications. Founded in 1987, the company works with businesses and laboratories globally, providing proprietary automated solutions for the pharma, biotechnology, chemical, battery, and petrochemical sectors.
With international sales and support offices, H.E.L has headquarters in Greater London, UK, including the companies’ research and manufacturing facilities. The global team has expertise across process and safety engineering, software design and development, electronics, mechanical design, and applications in chemistry, safety, and biotechnology.
Following significant growth, the company continues to extend the reach of its products to support and enable R&D and process optimization further across international markets. The extended reach includes the US, India, and China, where H.E.L has recently established a new subsidiary company.
Introduced to ThinCats by Scott Barham at Connection Capital, the funding will enable H.E.L to refinance and provide working capital to achieve its longer-term strategic objectives.
“With a recent focus on our people, processes, and infrastructure, we have established a solid foundation for future growth. The funding from ThinCats will allow us to strengthen our innovation pipeline further and invest in new product development as we expand into high growth markets, such as biotechnology and energy storage. We will also continue to scale-up our international operations and, in particular, to build our presence in the US and Asia,” said Louise Madden, CEO of H.E.L Group.
“We’re delighted to have this support from ThinCats – their approach was refreshing, as they took the time to understand our vision truly.”
Dave Sherrington, Regional Head of Sales, ThinCats: “The H.E.L offering is an exciting, niche business that knows exactly where its placement, products, and strengths lie, and the management team has a firm commitment to achieving their goals. We look forward to seeing their growth trajectory following this funding.”