The South East Midlands Local Enterprise Partnership has now
formally closed as a registered limited company.

To stay updated on the latest economic developments throughout the region, we encourage you to visit the South East Midlands Growth Hub. The SEM Growth Hub also provides free business advice and guidance to all businesses, manages funding and grant programmes and has an extensive resource library where businesses can find additional support.

Visit the South East Midlands Growth Hub here

You can still continue to browse the SEMLEP website, and contact
all employees using their existing email addresses.

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Investment fund deal gives oomf to porridge brand

11 June 2019

Investment fund deal gives oomf to porridge brand Robert Sweeney (co-founder), Andrew Sweeney (co-founder), Jordan Lavender (Foresight Group)

Foresight Group has announced a £500,000 equity investment into porridge manufacturer Oomf through the Midlands Engine Investment Fund (MEIF).

Originally based in Dorset, Oomf recently opened a new manufacturing site in Northampton, hiring staff from the area.

Oomf has two core product ranges: Protein Oats and Skinny Oats, which are currently sold through several major retail outlets including Sainsbury’s and Tesco.

The firm was founded by two brothers, Andrew and Robert Sweeney, who have backgrounds in finance and in sport science and nutrition respectively.

The investment will be used to buy equipment for the relocation to Northampton, to scale the business pending the outcome of advanced talks with other major supermarket chains and to expand the sales and marketing function based in the region.

Oomf co-founder, Andrew Sweeney, said: “These are exciting times and we are delighted to have Foresight’s backing through the MEIF. With its investment, we can upscale the business in our new East Midlands manufacturing base which is an ideal location for further expansion of the business into new retailers based across the UK.”

Jordan Lavender, Investment Analyst at Foresight Group, said: “We are delighted to be working with Oomf and in doing so bringing a vibrant, early-stage company to the East Midlands.

“As a result of the investment, the company has been able to create more jobs for the area whilst taking advantage of a central base in the region to facilitate more cost-effective distribution. In addition, we are pleased to be supporting a company that is passionately promoting a more healthy lifestyle.”

Lewis Stringer, Senior Manager of British Business Bank’s South-East Midlands Network, added: “One of the British Business Bank’s key objectives is to reduce regional imbalances in access to finance for smaller businesses in the UK, which is part of what the Midlands Engine Investment Fund has been set up to achieve.

“It is good to see that MEIF investment is supporting Oomf in the next stage of its growth journey.”

Vicky Hlomuka, SEMLEP’s Growth Hub Manager, said: “It is important that innovative businesses, like Oomf, are able to access suitable finance to help them scale up and open new manufacturing facilities in the area. That is a key driver for SEMLEP and MEIF and it is great to see it having a positive impact in the area.”

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