22nd November 2023
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Precision engineering group Lattimer Group is focused on growth after securing a six-figure loan from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.
The Southport-based business is using the investment to support the firm’s growth trajectory as it expands to meet evolving demands. This will strengthen its position as a leading specialist in the design and manufacture of branded component parts for the glass container manufacturing industry.
Lattimer Group has been at the forefront of setting standards in glass engineering for over three decades. The business is committed to continued investment and already boasts an on-site training academy and access to the latest CNC machine technology and facilities. It has also recently expanded the business further with the acquisition of Hartmann & Bender, extending Lattimer Group’s presence to Germany.
Carl Stead, Finance Director at Lattimer Group said: “Today Lattimer Group is a £30 million business, employing 220 people based across three separate countries. We operate in a very niche industry and doubled the size of the business in the last 2 years with our recent acquisition of Hartmann & Bender.
The funding from NPIF & FW Capital is helping us to invest in the future of the business as we move forward following this significant period of growth, giving us the working capital we need. The team at FW Capital have been really helpful and are genuinely nice people who are interested in helping our business. Their support has come at a time when many banks didn’t want to know.”
Andy Traynor, Senior Investment Executive at FW Capital added: “This is a great opportunity to support a long-standing business within the NPIF region. The glass precision engineering sector demands innovation and excellence, so we’re delighted to help Lattimer Group access the working capital to invest further in their business and support this accelerated growth.”
Debbie Sorby, Senior Manager at the British Business Bank said: “It is an exciting time for Lattimer Group, with the funding from NPIF marking a pivotal moment in the company’s journey towards expansion and excellence. The glass precision engineering sector is one that thrives on innovation and unwavering commitment to quality, and Lattimer Group’s dedication to maintaining these standards is unrivalled. It’s heartening to see businesses like Lattimer Group making strides in the North, and we are proud to be a part of the journey as the business continues to expand internationally.”
FW Capital was introduced to Lattimer Group by Gerard Lucas from Dow Schofield Watts Corporate Finance.
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire, Merseyside and the Tees Valley.
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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