Newsletters

Back to Northern Powerhouse Investment Fund News – Issue 9

NPIF businesses working hard in the fight against coronavirus

NPIF investee businesses are working hard in the fight against COVID-19, using their resources to aid key-workers and stop the virus from spreading.

Manchester-based Didsbury Gin, which has grown from strength to strength since its inception in 2017, is supporting the UK in the fight against COVID-19 by providing front line NHS staff in Manchester with disinfectant products. The business announced it was halting its current production and began manufacturing hand sanitisers to help key workers.

Didsbury Gin has already made the equivalent of one million bottles of hand sanitiser which has been sent to Greater Manchester Police and to Manchester’s hospitals.

The company received £100,000 funding from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund in 2019 to finance the development of its three new flavours which were launched last Summer. It received further investment earlier this year.

The company has extended its services to cover sites including hospitals, schools, play areas and workplaces. In addition to fumigation, the company installs laboratory equipment and has also been helping set up new testing facilities around the country to meet the growing demand.

IP&C recently received a £150,000 loan from NPIF – Mercia Debt Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund to support expansion and is one of only a handful of specialists in the UK. The company was founded in 2017 by Neil Anderson and Carol Duke.

Grant Peggie, Director at the British Business Bank said: “I am proud of the way our Fund Managers and our portfolio companies are supporting the UK’s fight against COVID-19 at this uncertain time. These are just two examples of how our portfolio companies are helping their communities and we recognise their huge effort and commitment to help in the fight against the Coronavirus.”

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