The High Wycombe-headquartered ventilation systems specialist will use the funding from BGF to support product development and expand into new markets.
Led by managing director Andrew McCubbin, Monodraught designs, manufactures, installs and maintains ventilation, cooling and lighting systems to create low energy, low carbon and sustainable buildings.
The company works predominately within the education sector and provides a full service, from 3D building simulation analysis through to installation and maintenance.
BGF’s funding will be used to develop a complete commercial ventilation and cooling product portfolio, allowing Monodraught to move into new markets.
McCubbin said: “After several years of growth, we are in an excellent position to expand organically through the rollout of our new products.
“BGF’s long-term approach to investing fits with our plans and aspirations as a business and we are looking forward to the next stage of growth with BGF as our partner.”
Following an introduction by BGF, Monodraught has also appointed Ewan Wilson as non-executive chairman.
Wilson is former managing director of cabling solutions company HellermannTyton Data and current non-executive chairman of Camloc Motion Control.
BGF’s Mark Nunny who will join the board of Monodraught, said: “Monodraught has continually invested in and protected its IP which gives it defensible positions in its chosen markets.
“With BGF funding and the support of Ewan, the management team now has the opportunity to move into new markets and develop complementary technologies to increase its share of wallet on specific projects.
“We are looking forward to working alongside Andrew and the team to support them in delivering their vision.”
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