Cimteq Limited, Wrexham, UK-based cable design and MES software company, raised £2.5m in funding.
Foresight Group made the investment.
The company intends to use the funds to expand its business reach.
Established in 1998 and led by Ali Shehab, CEO, and Amanda Shehab, Director, Cimteq provides business software implementation and process control consultancy to cable manufacturing industry companies worldwide including Europe, Americas, Middle East, Asia and Africa.
The company provides:
– CableMES, a Manufacturing Execution System designed specifically for the cable manufacturing industry to enable manufacturers to plan, manage and control every aspect of the manufacturing process.
– CableBuilder, an engineering and costing software platform for the wire and cable industry used in hundreds of cable factories worldwide.
Following the deal, Ali and Amanda Shehab will both continue to manage the company with additional senior resource including an experienced incoming non-executive Chairman, Bryan Taylor, and a new Finance Director.