Sephra, which produces food equipment including waffle, pancake, donut and popcorn makers, has used the six-figure funding, accessed through small business credit specialist Caple, to expand into new markets.
It has also purchased the intellectual property of its branded products, which were previously held by a US firm.
As a result, the business expects to hire a further ten staff and more than double its turnover to £10 million within four years.
Sephra currently exports to 67 countries, with clients including restaurants, cafes and hotels groups as well as local catering distributors.
MD David Archer said: “We wanted to move quickly, secure the IP rights to our products and to press ahead with our growth plans. We are now able to drive innovation and expand into 20 to 30 new markets across Asia, Australasia, Central and South America, providing huge growth potential.”
Karl Hodson, director of corporate solutions at BTG Advisory, who advised Sephra, said: “We were impressed with the Sephra’s management and product sustainability. With the deal agreed, Sephra has now secured the full rights to the products it sells and has the ideal platform to grow exports.”
Caple worked alongside RBS in the deal.