Cimteq Receives £2.5m Investment
to Support Significant Growth Plan
Foresight Group LLP (“Foresight”) has invested £2.5 million into Cimteq
Limited (“Cimteq”). This investment will enable the company to take the
next step in its development and expansion over the next few years.
Foresight is a leading independent infrastructure and private equity
investment manager which has been investing in technology companies
for over 30 years.
Ali Shehab established Cimteq in 1998 to
provide business software implementation
and process control consultancy to the
cable manufacturing industry, using his
extensive experience and passion for
improving productivity and streamlining the
manufacturing process, to develop CableBuilder
and CableMES.
The company operates from their Head Office in
Wrexham, with a global reach, delivering software
solutions for the cable manufacturing industry to
companies worldwide including Europe, Americas,
Middle East, Asia and Africa.
With over half a century of experience in the Cable
Manufacturing Industry, Ali Shehab, CEO and
Amanda Shehab, Director, will both continue to
manage the company with additional senior resource
including a highly experienced incoming non-
executive Chairman, Bryan Taylor, and a new Finance
Director.
Ali Shehab, CEO, Cimteq, says “This is an incredibly
exciting time for Cimteq. We have seen the company
grow steadily from its conception in 1998. We are
thrilled that this investment enables us to take the
company into the next phase of development, with
huge growth expected in the next few years”.
Amanda Shehab, Director, Cimteq,
says, “Cimteq has come a long
way in the last 20 years. We
want to take this opportunity
to thank our current customers,
some of whom we have worked
with for many years. We build
strong relationships with
our customers and tailor our
solutions to individual customer
requirements to ensure that
they gain the maximum benefit
from our software solutions.
This recent development will
enable us to build on the high
levels of customer service we
already provide and enhance our
expertise in this sector”.
8 WIRE NEWS December 2018