The injection of capital supports the Leeds-based company’s move into a new factory on the Gildersome Spur industrial estate in the southwest of the city, doubling the size of the previous unit and taking it up to 43,000 square feet.
Andrew Danzey, who founded the business in 2008 with Russell Irving, said: “ARC has been looking for a new investor for a period of time who can help provide the finance and support to help us drive the business forward as we move to the new factory, develop new products and expand across the UK. We are delighted to be working with Newable Capital to help realise the potential of the business.”
Both founders retain a stake in the business and will continue with the company, which has 60 employees.
Newable Capital managing director Peter Barrand said: “Newable Capital has been established to support excellent UK companies working at the heart of the economy. The team has screened over 300 investment opportunities this year and ARC is the first of a number of strategic investments we plan to make in the coming months. We are delighted to be supporting Andrew, Russell and the team through the next phase of ARC’s growth.”