IML Technology to grow with £6m investment
A Birmingham-based IT company is expanding its business support subsidiary after securing £6m of funding from Barclays Corporate.
IML Technology said it has been recruiting an average of one new employee each month over the past two years and intends to continue this growth rate into 2012.
The business offers discounted hardware and IT technical services to more than 2,000 businesses across the country and has increased its turnover from £27m in 2010 to £35m in 2011.
IML Technology obtained the funding to support its growth as it prepares to extend its international presence.
The company's managing director Dean Leather said that he was targeting Europe, having recently opened an office in Holland and has several European offices planned for 2013.
The business, which employs 45 staff and has offices in Birmingham and Nottingham, will open another in Hertfordshire in the coming months.
Tom Horton, relationship director at Barclays Corporate, said: "Dean has expansive knowledge of the IT sector and has a clear direction in which he wants to take his business.
"He has a robust business plan setting out clear goals and objectives and if his track record is anything to go by, he has the ability to ensure this company becomes one of the fastest growing IT businesses in the UK if not Europe."
IML Technology recently expanded its logistics and configuration centre which was also supported by Barclays Corporate to the tune of £300,000.
