EuroWire January 2019

Corporate News

£2.5m investment in Cimteq

FORESIGHT Group LLP has invested £2.5 million into Cimteq Limited, enabling the company to take the next step in its development and expansion over the next few years. Foresight is an independent infrastructure and private equity investment manager that 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 its head office in Wrexham, Wales, with a global reach, delivering software solutions for the cable manufacturing industry to companies worldwide including in Europe, the Americas, the 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, said: “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.”

▲ Ali and Amanda Shehab, centre, with some of the team at Cimteq

Amanda Shehab added: “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.” Cimteq Ltd – UK Website : www.cimteq.com

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January 2019