Maven Capital provides trackball maker with £4.3m cash injection
INVESTMENT firm Maven Capital Partners is pumping £4.3 million into a company that designs and manufactures industrial trackballs as it looks to exploit its technology and tap into new markets.
Cursor Controls’ product portfolio boasts more than 1,200 designs with some 90 per cent of its sales destined for export. It provides trackballs for a wide range of applications including use within the medical, marine, military and media sectors.
The funding provided by Glasgow-based Maven’s clients, alongside senior debt from Royal Bank of Scotland, will enable Cursor to accelerate its growth plans. As part of the deal, the group has seen the twin appointments of a new finance director and new chairman.
Neale Sutton, managing director of Cursor Controls, which is headquartered in Nottinghamshire, said: “After a number of successful years which has seen Cursor become established as market leaders in trackball and input technology, the management team are delighted to be embarking on the next chapter of the company’s storied history with Maven by our side.
“Maven… have already proved instrumental in assisting with the process of bringing on board Nick Burgess (finance director) and Kevin Kearns (chairman) to complement the already strong and well established team.
“These changes leave us remarkably well positioned to continue the development of our continually expanding and leading edge input solutions.”
Maven partner Andrew Ferguson said: “We look forward to working with Neale and the team in helping Cursor to exploit its great potential.”