6th March 2024
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A Merseyside chocolate machine maker is focused on growth after trebling its sales in the last year. It has secured funding to support future expansion from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.
DTG Finn is the brand of DT&G Engineering Ltd and is recognised globally for its manufacturing of chocolate coating and polishing machines, along with turnkey solutions. This is the third round of funding that FW Capital has given to DT&G Engineering, having previously provided funding in 2015 and then from the Northern Powerhouse Investment Fund in 2018. This latest working capital boost is helping meet increased demand for DTG Finn’s chocolate coating equipment worldwide and has supported the addition of an apprentice to the team. The company plans to double sales in the next 12 months.
Formed in 1962 in a small workshop in Birkenhead, the Wirral manufacturer is responsible for the coating on many products made by international chocolate producers. It exports its chocolate equipment across the world and was previously recognised by the late Queen for its services to international trade.
Lyn Pitt, Managing Director at DT&G Engineering said: “Our reputation for excellence in the design, manufacture and supply of confectionery equipment is second to none and this is reflected in our increased sales activity. The ‘Finn’ name is recognised as the most efficient chocolate coating and polishing machines for dragée production which creates bite size confectionary with hard outer shells. We export worldwide and pride ourselves on our dedication to all our UK and overseas clients. Our focus is on the future and the investment from NPIF & FW Capital helps our cashflow needs and expansion activities as we look to double sales this year. I’m delighted we’ve been able to expand our workforce and welcome an apprentice, Adrian Mois, through the MTC, to the team. The support from Lewis McMullin at FW Capital has been great. I like the personal relationship approach that Lewis provides us, we’re not just a number because Lewis takes the time to really understand our ambitions and is always there when I need to contact him.”
Lewis McMullin, Portfolio Executive Assistant at FW Capital said: “DT&G Engineering is a fantastic business that is going from strength to strength and leading the way in innovation and the development of confectionery technology. Operating in a niche market the team has a clear pedigree of excellence. The investment provides valuable working capital to support the recruitment of an additional member of staff and the company’s expansion plans moving forward.”
Debbie Sorby, Senior Manager, British Business Bank said: “NPIF investments such as this highlights the important role of external finance on businesses in the North. By supporting businesses like DTG with the funds to meet increased demand, nurture new talent and take the next steps to fulfil its growth plans, we are creating a more prosperous regional economy for the future.”
The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.
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.
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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