UK - Enterprise Ventures backs radio frequency identification business

Enterprise Ventures has completed an investment in Merseyside-based CoreRFID Ltd, a radio frequency identification business. The investment was made on behalf of the Coalfields Enterprise Fund, managed by Enterprise Ventures on behalf of the Department of Communities and Local Government. The deal was part of a funding package provided by Alliance and Leicester Bank and CoreRFID management team to assist with the management buyout of the business from family ownership. CoreRFID previously traded as Mannings RFID and formed part of the Southport-based engineering company of the same name.