Monodraught, a High Wycombe, UK-based ventilation systems specialist, received a £2.65m investment.
Business Growth Fund (BGF) made the investment. In conjunction with the funding, BGF’s Mark Nunny will join the board of Monodraught.
The company intends to use the funds to develop a complete commercial ventilation and cooling product portfolio to move into new markets.
Led by managing director Andrew McCubbin, Monodraught designs, manufactures, installs and maintains ventilation, cooling and lighting systems to create low energy, low carbon and sustainable buildings. The business works predominately within the education sector and provides a full service, from 3D building simulation analysis through to installation and maintenance.
Following an introduction by BGF, Monodraught has appointed Ewan Wilson, former managing director of cabling solutions company HellermannTyton Data and current non-executive chairman of Camloc Motion Control, as non-executive chairman.
The investment was led for BGF by Mark Nunny, Hugh Costello and Thomas McDonnell.