It’s been another busy quarter for the Northern Powerhouse Investment Fund, with a variety of equity, debt and microfinance deals completed across the region.
From fish-based pet food creators to environmentally friendly plumbing installers, transformational funding and investment has facilitated growth opportunities for businesses across the North.
Have a read of our most recent deals and what they’re using funding for.
One of the UK’s largest independent toy shop chains, Toyland, has secured a £400,000 investment from NPIF – Mercia Debt Finance. The Yorkshire business will use the funding to boost its purchasing power and expand stock levels after the company took a lease on a new warehouse in Bradford. The company currently employs 59 staff and expects to create several new jobs once the new warehouse is fully operational.
AperiData is an open banking-based credit reference agency, helping clients to reach underserved audiences. Located in Chester, it secured a six-figure NPIF – Maven Equity Finance investment to aid its programme of growth, expand its portfolio of customers, enter new markets and create up to 10 new jobs in the region.
Skippers Pet Products is the UK’s only fish-based pet food provider, and has secured a £75,000 loan from NPIF – BEF & FFE Microfinance . The Grimsby-based pet food manufacturer produces a range of tasty treats for dogs and will use the investment to scale up its operations by relocating to new premises and increasing capacity. This will help it to target significant growth in both the UK and international pet foods sector, after outgrowing its existing facility.
Cheshire-based Polar Specialist Coatings secured a six-figure investment from NPIF – FW Capital Debt Finance, to help launch a new eco-friendly bitumen paint product. The company has a rich heritage in the British paint industry, launched in 2018 by the fifth generation of the Johnstone paints family. It has recently announced partnerships with Selco Builders Warehouse to distribute its product range and has other retail partnerships in the pipeline.
Zenith Eco Solutions, a Widnes-based, environmentally centric plumbing, heat and air-conditioning installation business, has secured a £75,000 loan from NPIF – River & GC Microfinance. The company is committed to helping improve Britain’s emissions through installing more energy-efficient heating systems. The investment will help expand its team’s skillset, create up to six new jobs and help obtain accreditations to provide additional services.
Productive Machines, an artificial intelligence (AI) spinout from The University of Sheffield Advanced Manufacturing Research Centre (AMRC), raised £2.2 million in seed funding. UK Innovation & Science Seed Fund (UKI2S) led the funding round with participation from NPIF – Mercia Equity Finance. The investment will help the company make its advanced machine tool process optimisation technology available to a far wider range of manufacturers worldwide.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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Suiso - a Rotherham company developing an innovative hydrogen generator that could boost uptake of green energy - has ra...
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