The newest millionaire to star on TV show Dragons’ Den has made an off-screen angel investment into a Warwickshire firm which creates eye-catching artwork for big events.

Hilary Devey has used her private wealth to back Warwick-based Table Art, a specialist in illuminated table centrepieces for events staged by firms such as Cadbury and Microsoft as well as Premier League football clubs.

The successful businesswoman, who built up her fortune in the pallet distribution business, replaces James Caan in the new series.

She has also starred in shows like Secret Millionaire and the Business Inspector, which is how she came across Table Art after the company was featured on the programme last year.

Ms Devey was so impressed with the firm’s potential and its founder Gary Martin that she took a 50 per cent stake in the firm.

She said: “His enthusiasm and total commitment and the uniqueness and innovation behind the product really enthused me.

“I could see it growing not just in the UK but pan-European and worldwide.

“The fact it was in the Midlands also endeared me to it as it’s a region that needs investment.

“To me it was a logical investment for my business portfolio.

“I had the logistics infrastructure to get the product to the event, it’s innovative, it’s environmentally friendly because it’s solar-powered and there’s nothing like it in the marketplace.”

Ms Devey, who is busy filming the new series of Dragons’ Den, said supporting small firms like Table Art was key to the UK’s economic success.

“It needs people like me to start giving more to SMEs, because the banks most certainly are not doing so,” she said.

“I’m incredibly inspired, there are some very innovative products out there and some very good next-generation entrepreneurs.”

Table Art, which has a turnover of just under £500,000, aims to hit the £1 million sales mark this year, a goal Ms Devey believes it can reach “easily”.

Since investing in Table Art, she has helped the company tighten its focus from a broad range of events services to find a niche with its table decorations, which can be customised and branded depending on the occasion.

It recently provided centrepieces for a West Bromwich Albion event, for example, where tables were decorated with football-themed centrepieces lit up in the club’s colours.

Mr Martin said: “Before we were doing more general theming for events.

“But Hilary spotted an opportunity within the stuff we were doing with the table centres that light up.

“She advised us to concentrate just on the table art, as it’s a niche and something that could be expanded.

“It’s helped us to focus on this particular area we’ve mastered.”

Table Art will also tap into Ms Devey’s logistics expertise within her Pall-Ex empire, which will help it get the product to events all over Europe and beyond.

She added: “Where my assistance comes in is in developing an IT infrastructure for the company, a CRM system, providing PR and marketing services and getting the brand out there.

“And to move on to create a pan-European infrastructure where we are able to provide events across Europe.”