Specialist insurers secure six figure funding package from Midlands Engine Investment Fund II
Acres Investments Limited (“Acres”), the holding company of Acres Insurance Brokers (AIB), a specialist agricultural insurance broker, has secured a six figure debt finance package from the British Business Bank’s Midlands Engine Investment Fund II for the East and South East Midlands, managed by Maven Capital Partners (“Maven”).
Founded by Nigel Wellings, an experienced insurance professional with a farming background, AIB is dedicated to supporting farmers and the wider rural community with tailored insurance solutions.
Based in Northamptonshire, the company is well placed to serve the Southeast Midlands and surrounding regions, where agriculture remains a key part of the local economy and there is strong demand for specialist insurance services. AIB combines deep sector knowledge with extensive insurance expertise, enabling it to provide policies that reflect the unique needs of rural based businesses.
Acres Insurance Brokers works with all major UK insurers and serves a diverse portfolio of rural clients, from small family-run farms to large-scale commercial estates and agribusinesses. The company has built strong, long-standing relationships across its client base and places significant volumes of business with leading insurers, including AXA, Aviva, Zurich, QBE, Amlin, RSA/NIG, and others.
The Midlands Engine Investment Fund II funding will support Acres Insurance Brokers’ next stage of growth, including the development of a new IT platform to enhance online quotation and policy management, relocation to larger premises, expansion of marketing activity, and growth of the team. This debt finance package will also allow the business to broaden its reach and compete more effectively within the agricultural insurance market.
Nigel Wellings, managing director at Acres Investments, said: “After five years of building Acres Insurance Brokers into a solid and scalable business, we reached a point where accelerating growth became the next logical step. Rather than sell equity, we made a clear decision to pursue debt finance to maintain control and long-term value. In the past, we’d have turned to traditional high street banks, but this time we approached Maven, working with the British Business Bank. From the outset, they took the time to understand our business, our model, and our ambitions – and they delivered a funding solution that truly aligned with our goals. Their support has given us the confidence and the capital to take Acres Insurance Brokers to the next level.”
Paul Davis, investment manager at Maven, said: “Acres Insurance Brokers has built a strong reputation for its specialist knowledge and customer focus in the agricultural insurance market. The combination of farming backgrounds and technical insurance expertise across the team gives them a practical understanding of the risks and
challenges their clients face, allowing them to deliver solutions that truly meet the needs of their clients. We are pleased to support Acres Insurance Brokers with this investment and look forward to working with them as they continue to grow the business.”
David Tindall, Senior Investment Manager, at the British Business Bank, said: “This investment demonstrates the fund’s continued commitment to helping ambitious businesses across the Midlands unlock their growth potential. This round of funding from the Midlands Engine Investment Fund II will help Acres Insurance Brokers support more farmers and the wider rural community, while the business broadens its reach and delivers on its next phase of growth. We wish them every success.”
This latest investment adds to a growing list of businesses backed by Midlands Engine Investment Fund II via appointed Fund Manager Maven Capital Partners. The £400m Midlands Engine Investment Fund II covers the entire Midlands region, providing debt finance from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up and stay ahead.