From timber treatment plants to fintech solution providers, the Northern Powerhouse Investment Fund has supported a wide range of exciting businesses across the North already this year. Whether it’s funding to create jobs or to expand operations to take on new business, access to finance opens up the doors for entrepreneurs and small business owners to take their company to the next stage in their growth journey.
Have a read of our most recent deals and what they’re using funding for.
In order to meet growing demand, WJ Fire Retardant secured a £100,000 loan from NPIF – Mercia Debt Finance to install additional kilns to boost its production at its plant in Kirkburn. The eco-friendly fire-retardant timber treatment company is set to double its capacity to treat timber for UK and overseas construction projects. Since 2019 it has doubled its turnover and is on course to double it again in the next five years.
Manufacturing butyl tape products for the global construction market, Cheshire-based Specialist Technical Products secured a six-figure investment from NPIF – FW Capital Debt Finance. The funding is being used to support the firm’s working capital needs as it expands its product range and invests in new machinery. The investment will also back the company’s involvement in a solar energy project which will install solar panels on the firm’s facility to generate electricity for its own use.
Fintech solution provider, Nivo Solutions, secured a £1 million investment from NPIF – Maven Equity Finance. The verified identity messaging solution helps businesses reduce the reliance on inconvenient communication channels like paper post, phones, emails and in-person communication. The investment will aid Nivo in building its product, marketing, customer success and sales team, including the addition of a sales director to accelerate the business’ growth.
Founded in 2016 by Janet McGlaughlin, Marmion secured a £150,000 loan from NPIF – Mercia Debt Finance in order to double its team by adding a further eight staff in the year ahead. The Leeds-based business is a personalised ethical recruitment company and specialises in working with fast-growing start-ups and businesses to help them put the right people in place to scale.
Launched by Steve Mattocks and Rob Cook in 2022, Virtue Bespoke Lodges secured a six-figure funding boost from NPIF – FW Capital Debt Finance. Manufacturing and designing bespoke lodges for holiday parks, the investment has been used to help the company locate to new premises in Warrington and also to help it focus on future growth.
Yorkshire’s Eventum Orthopaedics, a medtech company, has developed a device that could improve the success of knee replacement surgery through a £2.5 million Series A funding round led by NPIF – Mercia Equity Finance. The new device, Quadsense, measures the forces of a patient’s quadriceps muscles across a range of leg motions, and has already been used in 20 operations in New Zealand. The latest funding will enable the company to begin production, expand its sales and technical team and apply for FDA approval in the US.
IT recycling firm, Zixtel Ltd has secured a £150,000 investment from NPIF – BEF & FFE
Microfinance. The company specialises in IT recycling for businesses with redundant
equipment and diversified its services by opening a recycling plant during the pandemic.
The cash injection will help expand its facilities, invest in new machinery, and create five
new jobs, helping businesses achieve their sustainability goals.
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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