Building energy management business Adam Communication Systems International is looking to double turnover and take on an additional 20 staff after securing a £1.5m investment from Maven Capital Partners.

The Cheshire business, whose wireless technology is used by the likes of BT, Boots, HMV and Marks & Spencer, said the cash would help it continue its fast-pace of growth.

Managing director Stephen Dillon, who co-founded the company with technical director Joe Blower in 1990, told Insider: “It will help us execute this record-number of new orders we have and service the new ones we are receiving. We manufacture market-leading technology and this gives us the ability to exploit that. We’ll also be able to increase our sales presence and target markets outside of our traditional sectors.”

Dillon said the company’s order book currently stands at £12m and it plans to recruit up to 20 new staff in the next 12 months. The business currently employs 45 people from its Stockport headquarters.

Maven made the investment through the Capital for Enterprise Fund (CfE) - the £75m government backed initiative launched in 2009 designed to help small and medium-sized businesses. Maven is managing £30m of the fund, with London-based Octopus Investments also running £30m.

Ryan Bevington, senior investment manager at Maven, said, "Adam is an exciting business which has recently developed new technology providing cost effective and reliable wireless building energy management capabilities. The products have been well received in the market and this investment from the CfE fund will help the team achieve their sales targets."

Matthew Bryden-Smith and Ashley Haworth of Rickitt Mitchell advised Adam Communication Systems International Limited on all aspects of the investment.