Lean software firm aims to be a world leader with help of MEIF funding

The funding will help Lean Transition Solutions (LTS) to embed AI into its products and establish itself as the leading global provider of Lean manufacturing software.

With 20 different software solutions, LTS is the only company in the world with a full suite of products to support Lean manufacturing, a production method designed to enhance efficiency and reduce waste.

Its software is used by many well-known names including Schindler and Philips and sold through channel partners in the US, Europe and Australia. LTS also offers consultancy and an online training programme that is used by the world’s leading education provider Pearson, amongst others.

LTS, which is based in Worcester, was established in 2009 by Brett Griffiths, a Lean expert who had held senior roles with automotive manufacturers. In addition to its two permanent staff, it also works alongside a network of independent consultants to support client implementation and training, and a software development team in India.

The company is currently developing a number of AI applications, including a bot that analyses data from all areas of the business and quickly identifies key challenges. The funding will enable it to accelerate research and development and scale its business in the Midlands by creating four new jobs in the coming months.

Brett Griffiths, founder and CEO, said: “Lean manufacturing is about doing things faster, better and smarter — enabling companies to improve their efficiency and their people to thrive. Our Lean Industry 4.0 products marry proven Lean principles with digital technology, and the introduction of AI will extend that further. We aim to bring our technology to a broader audience and establish LTS as the global leader in its field.”

Raj Minhas of Frontier Development Capital said: “LTS helps businesses to radically improve productivity and performance by adopting smart manufacturing techniques. The company has achieved remarkable success in developing such a comprehensive range of software and attracting a global blue-chip client base. The funding will enable it to further enhance its products and continue its success story.”

Edward Price of Central Finance provided fundraising advice to the company.

The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides equity investment up to £5m and debt finance from £25k to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.