Advance LEDS makes Leicestershire move with investment
Coventry-based Advanced LEDS has announced plans to relocate to Leicestershire after securing £300,000 of funding from Turning Point Investments.
The company, which produces LED lighting products for internal use as well as car parks, roads and commercial space lighting, said the investment has given it the chance to become the "LED space lighting market leader".
The investment team was led by David Harvey, former M&A director at Rolls-Royce, who will take on his role of non-executive chairman at LEDS Advanced with immediate effect.
Turnaround Investment manager Tom Mawhood will take on the role of interim chief executive.
Advanced LEDS said it had created three new job roles since the cash injection was obtained, and would start recruiting for further positions in 2012.
The company was formed eight years ago by Carl Clarke and Mark Hopkins.
Managing director Clarke said: "This is a very exciting time for the business.
"The process itself has been somewhat scary as it challenges you to do a lot of navel gazing, however the prize post investment is the opportunity to realize our dream of becoming an international leader in the LED space lighting sector.
"We have already supplied a number of major projects in the UK with EON and other customers, and have some increasing opportunities abroad with products already supplied to Malaysia for a motorway project."
