Adapt Formworks embarks on 5-year expansion plan
26 January 2011
Investment from xénos angels will
now enable Adapt Formwork, which targets a niche part of the
construction industry, to embark on a 5-year expansion
plan.
The company
provides unique bespoke formwork with a high-quality service
from an experienced team.
“I established Adapt Formwork in
2009 having had many years’ industry experience and very quickly
we’ve
earned a reputation as a
high-quality provider,” explains managing director, Anthony
Gradwell.
“I was keen to expand the company
and contacted xénos because I was impressed by its network of
potential investors.”
xénos introduced Gradwell to angels
Edward Lattimer and Nick Owen who went on to
invest in the company and become directors. Lattimer is an
experienced engineer and Owen is from a sales and financial
consultancy background.
“I was attracted to invest in Adapt
Formwork because it has a targeted product and service offering
aimed at
a profitable niche in the
construction sector,” comments Lattimer.
The company has a 5-year expansion
plan and will use the xénos angels’ investment to underpin this
plan. It has already purchased new equipment and recruited two new
apprentices.
“Adapt Formwork targets a market
niche with a great deal of future potential and aims to become the
UK’s largest formwork supplier. This investment has allowed us
to supply more customers than ever,” Owens concludes.