The Wales SME Investment Fund, managed by Finance Wales has made the first investment from its £40m fund.
The fund’s first deal is a £750,000 equity and debt investment into Channel Fisheries – one of the UK’s leading wholesalers of fish and seafood. The business is headquartered in Cardiff and supplies established businesses like the Jamie Oliver Group and Harrods.
The investment is being used to acquire a UK competitor, Murray’s Fresh Fish. Further plans are in place for Channel Fisheries to expand its processing facilities, in order to double its commercial operations within 3 – 5 years.