Further funding for Ramesys

Ramesys announced it has secured additional funding of £9 million from Lloyds TSB Bank and Lloyds TSB Development Capital to support its ambitious growth plans. LDC, the UK's leading regional mid-market private equity player, backed the company's MBO in 2005 in a multi-million pound deal.

Mark Freer of LDC, said: 'Ramesys has achieved strong order book growth since our initial involvement in 2005. Its progress in the BSF market, the continued strength of its brand, positive customer feedback and a newly strengthened management team, has placed the business in a good position to capitalise on market opportunities.'

Ramesys Chief Executive, Mark Chambers, said: 'Ramesys is experiencing fitting success in the Government's Building Schools for the Future and Academies programme and this funding will allow us make a further step change. We are clearly one of the two main suppliers in the BSF ICT market with 5 contract wins to date with a combined value of over £70 million. LDC's continued support is recognition of its belief in the strength of our business, continued market opportunities to 2011 and beyond, and the Ramesys team which I am proud to lead. This additional funding allows us to further invest in the business, ensuring we have the scale and strength to continue to deliver on current contracts and to pursue a bold bid strategy in the BSF and Academies programme.'

Ramesys is currently delivering BSF services in Manchester City and the London Boroughs of Waltham Forest and Westminster - the latter two contracts are in partnership with construction company Bouygues UK. Ramesys, in partnership with Carillion, have recently been announced as the selected partner in Nottingham City and Tameside where Financial Close is also imminent. In 2008, Ramesys has won or is shortlisted for contracts with a total value of over £130 million.