A Cookstown based company with offices in London and Florida is aiming to strengthen its foothold in the US market and expand its global reach thanks to a £600,000 loan from the Investment Fund for Northern Ireland.
Facilitated by Whiterock, the loan will enable Advanced Electronic Solutions (AES) Global Ltd to add to its 51 strong workforce and accelerate its next growth phase.
The company, which started as a security installation firm in 2005, now designs, manufactures and supplies intercom systems and a range of security products to the global market.
AES Global MD, Kyle Loughrin said:
"We started with a team of three people in a back garden shed in Cookstown. Today we’ve expanded into a company with a 30,000 sq. ft. facility within the industrial and manufacturing hub of Mid Ulster.
“We now have an office in Hemel Hempstead with four staff members, an office in Florida with eight staff, a representative in France, and are currently in discussions to open new offices in Australia and expand into the Far East.
“We’re incredibly proud of how far we’ve come, especially our success in the US. It is traditionally a challenging market for Northern Irish businesses.
“We take great pride in our Northern Irish roots. Our team in Florida originated from our head office in Northern Ireland, and together, we’ve built a workforce that showcases local talent on the global stage.
“It’s incredibly rewarding to employ and support these individuals as they contribute to our success.
“Working with Whiterock to secure this funding has been a seamless experience. We first connected at a roadshow in Omagh, where their presentation truly resonated with us. From then on, they have been a constant support throughout the entire process.
"This funding will enable us to meet out goals, enhance our product range, and grow at a pace that matches our ambitions. I would highly encourage anyone with similar aspirations to explore what Whiterock and the Investment Fund for Northern Ireland can offer.
"This partnership will help elevate our business to the next level, expanding both our national and international presence, while staying true to the core values that define us as a local company."
Related: First equity deal announced for £70m Investment Fund for Northern Ireland
Whiterock Investment Manager, Jacob McConkey said: “Whiterock is delighted to work with AES Global Ltd to support the continued growth of this successful international business.
“The team’s expansion plans are ambitious but, with their track record and experience, achievable.
“The business has built a strong brand identity and its foothold in the US market shows the depth of understanding Kyle and the management team have of their offering.
“This deal perfectly showcases the intended focus of the Investment Fund for Northern Ireland, providing complementary funding alongside the senior bank to assist local businesses in realising their ambitious growth plans.”
Related: Northern Ireland women-led companies access record rates of external capital in 2023 compared to UK
British Business Bank Director, Nations and Regions Investment Funds, Mark Sterritt said:
“AES Global Ltd has already earned a stellar reputation in the wireless intercom market.
“We share the management team’s belief that there is a real opportunity for product diversification and market growth and are delighted to be able to provide the finance to help them realise this ambition.
“Supporting exciting and innovative businesses on their growth journey is exactly what the fund is designed to do, and I am looking forward to AES Global’s ambitions realised over the coming years.”
The £70million fund offers a range of commercial finance options including debt finance and equity investment to support businesses from all sectors in Northern Ireland and at different growth stages.
Whiterock manages the debt fund, offering loans of £25,000 up to £2million while Clarendon Fund Managers provide equity stakes in smaller businesses up to £5million.
To find out more about the Investment Fund for Northern Ireland visit http://www.investmentfundnorthernireland.co.uk
Source: Written by press release
