SLF provides £1.3m of mezzanine funding to Spaceright

The funding, which came in the form of a mezzanine loan, will fund the acquisition of Educational Technology (Edtech).

The acquisition of Edtech is intended to strengthen Spaceright's positioning in the early learning market. The funds will also enable Cumbernauld-based Spaceright to finance sales and marketing activity for its Inspirational Playgrounds range of outdoor learning environments.

The investment is the 17th to be made from SLF, which provided £3.5m to energy services business Coretrax Technology in February this year.

In October 2013, Maven appointed Martin McLaren as portfolio manager and Brian Scouler as portfolio consultant on the SLF team.

The Scottish Investment Bank, the investment arm of Scottish Enterprise, appointed Maven to manage the £113m SLF in 2011.

Company
Founded in 1990 by primary- and middle-school teacher Phil Hantman, Edtech is a Newcastle-based provider of screen-printed plastic resources for educational purposes.

People
David Milroy is an investment director at Maven. Steve Ashton is managing director at Spaceright. Kerry Sharp is head of the Scottish Investment Bank.

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Maven Capital Partners