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Back to Northern Powerhouse Investment Fund News – Issue 6

Deal Round Up

NPIF has remained committed to backing ambitious businesses in the North, and a growing number of companies are exercising the funding options available to them.

Here are just some of the transactions we have completed this quarter:

Creation 360

Manchester-based product design agency, Creation 360, has plans to develop a new mobile solution for the hospitality and leisure industry after receiving £250,000 from NPIF, which was part of a larger funding round totalling £750,000.

Connectus

Doncaster based superfast broadband provider, Connectus Group, received £150,000 worth of investment from NPIF to fund a premises refurbishment, additional staff, as well as marketing and website development to support the further expansion of the business.

Phusion

Teesside-based engineering information management firm Phusion secured a significant six-figure investment from NPIF – FW Capital Debt Finance. The company will invest in product and business development, as well as using the funding to scale up for delivering bigger projects and increase headcount.

Abingdon Health

Abingdon Health is a diagnostics company which specialises in ‘point of care’ tests, to diagnose disease in humans, animals and plants. The £1.5m investment from NPIF – Mercia Equity Finance, will allow the company to fulfil new contract wins and invest in new equipment and processes at its headquarters in York.

Fire Safety Managers

Fire Safety Managers, which is situated in Chester, delivers lifesaving solutions and training to businesses and education providers across the country. The company secured £35,000 from NPIF as part of their funding round which will be used to create at least three new full-time jobs, invest in marketing and training and achieve accreditations that will enable the business to tender for opportunities for larger multi-nationals.

GW Power

Humber-based GW Power-Safe is an award-winning business which provides mechanical and electrical installation services. The £100,000 investment from NPIF will support GW Power-Safe as it looks to secure larger contracts and create 10 new jobs.

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