2 weeks Ago
AES Global MD Kyle Loughrin with British Business Bank director Mark Sterritt and Whiterock's Jacob McConkey A Co Tyrone company specialising in intercom systems and security products is hoping for further global expansion after securing a £0.6m loan. Advanced Electronic Solutions (AES) Global in Cookstown received the funding from the Investment Fund for Northern Ireland, facilitated by Whiterock.
It already has offices in London and Florida but says the loan will help it strengthen its position in the US market and expand its global reach by adding to its workforce of 51. AES started out as a security installation firm in 2005 and now designs, manufactures and supplies intercom systems and security products. Managing director 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.” He said the firm is proud of its NI 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.” He said that securing the investment through Whiterock had been “seamless”. “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." Jacob McConkey, Whiterock investment manager, said: “Whiterock is delighted to work with AES Global 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.” Mark Sterritt, British Business Bank director, nations and regions investment funds, added: “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 £70m fund offers commercial finance options including debt finance and equity investment.
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