West Lancashire based events organisers Vital Events (NW) Ltd and Epic Event Management Ltd have merged with support from Boost and Access to Finance (A2F) North West.
Appley Bridge-based Vital Events (NW) Ltd were a single and multi-sport event organiser. The owner, Rob Macleod, planned to merge with another firm, Epic Event Management Ltd, expand the business and build the capacity to host more frequent and larger events.
Rob approached A2F with the idea to raise capital to fund the merger, with repayment coming from income generated from the combined business. The two companies were delivering similar sporting events across the North West and were both based in West Lancashire with complimentary customer bases. Vital Events’ core products were sporting events aimed at novice, intermediate and elite athletes.
They wanted to create unforgettable race day experiences, including events such as open water swimming, road running and cycle sportive.
Rob Macleod, needed to raise finance to fund the merger. With the two companies merged, he could consolidate events and participants from the two entities and continue to deliver quality race days to a larger number of participants.
With an enlarged corporation, they would have the resources to continue to grow the size and number of events and well as creating some new events and diversifying. Rob saw a successful business opportunity, however he felt he needed guidance to understand the options available to him and find funders who would back his idea.
Working with the Business Growth Hub’s Access to Finance advisor Jonathan Nelson, Rob developed the concepts within his business plan and continue to establish a unique selling point. Jonathan agreed that the business was in an ideal position for growth and support.
Rob added: ‘The advice and guidance received from Jonathan and the A2F team was invaluable in not only securing the finance to take the next steps with my business but also in providing sound advice on what comes after that and how to take start to plan and structure the business financially going forward.’
Jonathan commented: "A major positive was that Rob was already running established events and had a strong knowledge of the market and customer base. He also had a clear goal that he wanted to pursue."
With support from Jonathan, Rob raised the five-figure sum required to fund the merger from Lancashire County Council's Rosebud Micro fund. As a result of the finance raised, as well as Rob and his team’s clear ambition and hard work Vital Events merged with Epic.
The merged company now operates under the Epic Events name. Following the merger, Epic Events have ambitious plans and are already starting to deliver on them. They organised 44 events last year and have seen record entry numbers at many of the events.
They have also hosted the National Championships for the first time at Southport Triathlon. Epic Events have successfully managed to grow their team, creating three new full-time jobs since the merger.
If you are looking for funding to grow a business in Lancashire, start the growth conversation with Boost by calling us on 0800 488 0057.
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