Newsletters

Back to Northern Powerhouse Investment Fund News – Issue 3

Deal Roundup

NPIF has continued to deliver a strong pipeline of deals in all 10 LEP areas, making an impact on businesses across a range of sectors. Almost £3.8 million has been invested in the following six businesses:

Radio.co

Manchester-based Radio.co, a technology company that developed a cloud-based software streaming platform for radio stations received a £300,000 loan from NPIF – FW Capital Debt Finance. The firm, which currently employs 20 staff, will use the funds to scale-up, recruit a further ten additional employees and develop new products for its existing customer base of around 3,500 radio stations.

 Ant Marketing

Sheffield-based telemarketing company Ant Marketing secured a £100,000 investment from NPIF – BEF and FFE Microfinance, which will help create up to 50 new jobs within the city and provide growth capital to invest further in the business. Ant Marketing, which operates from two locations in central Sheffield, has a growing customer base which includes British Gas, Nestle and The Economist.

Allied Protek

Humber-based Allied Protek, an engineering specialist which provides a full project management package for clients in the food, drink, fine chemicals and pharma sectors, secured a £250,000 loan from NPIF – Mercia Debt Finance. The funds will help the company create 10 permanent engineering jobs in the Humber area.

Cenergist

Washington-based energy consultancy Cenergist, which helps public and private clients across the UK and Europe achieve energy and financial savings, received a £515,000 investment from NPIF – FW Capital Debt Finance. The additional capital will help the firm create new jobs in the Tees Valley region and open up new revenue opportunities.

Azzure IT

One of the fastest growing small tech firms in Sheffield, which provides information technology consultancy services to businesses through Microsoft Dynamics suite, received a £2 million funding from NPIF – Mercia Equity Finance. The funding will enable Azzure IT to strengthen its management team, recruit additional implementation consultants and expand  its sales and marketing operations.

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.

Editors Notes