Investment Signals Expansion for Nemesis
3rd July 2008
A Liverpool communications provider is undergoing significant expansion with a cash boost from Alliance Fund Managers (AFM) through the MSIF Small Firms Fund and private investment which includes capital from some of its staff.
Nemesis Networks Limited, based in Netherton, provides an integrated IT, carrier and telephony service to customers throughout UK including schools, solicitors and other businesses many of which are multi sited.
<The funding package totalling £290k included £100k invested by the AFM managed MSIF Small Firms Fund and £190k private investment including seven staff who now retain a small equity stake in the business.
The company was set up in 2006 by directors Kevin Cheston, Michael Cheston and David Griffths and now employs 15 staff.
Managing director, Kevin Cheston said: “Inward investment from staff is very positive and shows that the people who work closest to the business have recognised its strength and potential. We believe that making staff shareholders will really help drive the business forward and enhance the quality service we already provide to our customers.
“Buying different communications technology components from separate providers can result in a complicated and ultimately poor service. We supply a unified communications system which provides our customers with a simplified, cost effective and, we believe, superior package.
“Merseyside is a huge area of untapped potential for Nemesis and our product and service offering. Although we have engineering capacity nationwide we are particularly concentrating on growing the business here and in the surrounding area. We work closely with leading industry heavyweights such as Microsoft and Cisco and they are actively supporting our growth plans in the region.”
AFM investment manager Carol Bolland said: “Nemesis has already built up a solid customer base and is building up a reputation as a premium communications service provider. The management team is strong and driven and we believe the business will do very well.”
Turnover last year reached £1m and it is expected to reach £2.7m next year. The company expects to double its workforce during the next two years.
Ends
For further information please contact Angela White at AFM on 0151 242 6376.
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Photo L-R shows Carol Bolland (AFM) with David Griffths, Kevin Cheston and Michael Cheston (Nemesis)
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