Partner:FW Capital
Region:North West
Location:Wigan
Programme:Northern Powerhouse Investment Fund
Wigan-based international engineering consultancy, FBW Engineering Services Ltd, secured growth funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund.
The investment will provide capital to support FBW Engineering’s future growth plans as it continues to attract new business and strengthen its specialist team with the recruitment of two mechanical engineers.
FBW was founded in 1995 and today employs sixteen people at its premises in Wigan. The business is a global provider of process, mechanical, electrical and ICA engineering services. Its team of expert engineers, designers and engineering managers support a wide range of clients delivering sustainable solutions for water and wastewater treatment including sludge processing, anaerobic digestion, municipal waste handling and treatment, plus nuclear and industrial effluent treatment.
It also offers a holistic service encompassing all stages of a construction project, from early client engineering assistance to the production of detailed process, mechanical and electrical design packages. This drives the successful delivery of projects through the feasibility, design, construction, and commissioning process.
Mike Dawber, Operations Director, FBW said: “FBW is entering an exciting period of growth as we look to broaden our client base further. A key part of any successful business is having the right people on board, and this has been crucial in the current economic climate. We have a highly trained, specialist team whose strength has helped us to secure UK-based and global contracts which has been instrumental to our success. The investment from NPIF – FW Capital is a real boost and is helping to create two new jobs which will support increased capacity demands for our services and future prosperity. Loz has been really supportive, responding quickly to ensure the funding was completed smoothly.”
Loz O’Connor, FW Capital’s Senior Investment Executive, said: “This a is a great example of how the NPIF – FW Capital Debt Finance can help ambitious businesses to create new jobs and expand. FBW has a highly experienced team operating in a niche sector and we are delighted to provide investment funding which is helping to strengthen their current workforce and set up the business up for its next stage of growth with confidence.”
FW Capital can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley.
Sue Barnard at the British Business Bank, said: ‘’FBW began its journey in 1995 and it is fantastic to see the business utilise funding from the Northern Powerhouse Investment Fund for its next stage of growth, as it creates new jobs and scales internationally. NPIF plays a crucial role in delivering access to finance to ambitious businesses across the North of England, with debt finance enabling businesses to purchase new equipment, move premises or act as working capital.”
The Northern Powerhouse Investment Fund project, which is designed to boost SME growth in the North of England, 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.
FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719
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