SME finance specialist FW Capital has invested in a logistics business as it marks a key £5m funding milestone across the North.
The company has now invested more than £5m into Northern businesses through the Northern Powerhouse Investment Fund II (NPIF II), launched by the British Business Bank earlier this year.
FW Capital has backed 14 businesses across sectors from manufacturing to education with an average deal size of £350,000.
Its latest investment is in consultancy Prime Transport Planning, which will use its “six figure” funding boost from NPIF II – FW Capital Debt Finance to invest in new technology and in growing its senior team.
Prime Transport Planning, based in Liverpool, was founded in 2016 by David Schumacher to work with developers, architects and local authorities.
Owner Mr Schumacher said: “Increased demand for green energy, additional housing, warehousing and sports and leisure activities means we are operating in a buoyant market. The new Government will also bring potential changes to planning policies that will support the delivery of projects in these sectors, so it’s crucial we are best placed to support our existing and new clients.
“We are leading the field with our expertise and credentials and have already welcomed two new members of the team using the NPIF II - FW Capital funding. We plan to recruit more members of staff to strengthen our team further, demonstrating our commitment to growth. The funding has made this much easier. We’re in a great position to take the business to the next level.”
FW Capital is part of the Development Bank of Wales Group.Carol Bolland, investment executive at FW Capital, said: “It’s great to provide the investment Prime Transport Planning need to realise their growth ambitions. The increased demand for their consultancy expertise has fueled this growth and it is a great example of a dynamic Liverpool business leading their field and expanding their customer base.”
Most Read
NPIF II covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m for SMEs. NPIF II – FW Capital Debt Finance provides loans across the NPIF II area with a primary focus on the North West.
Sue Barnard, from the British Business Bank, said: “Since the launch of NPIF II the demand for funding has been encouraging and it is good to see FW Capital reach this important milestone. We’re looking forward to increasing our support to businesses across the Northern Powerhouse region.
“Firms like Prime Transport Planning are a fantastic example of how NPIF II is helping support expansion. The increased demand for transport planning services has resulted in a period of high growth for Prime Transport Planning. The business is now looking to expand the team to drive further growth, and the NPIF II funding will allow it to bolster both its senior leadership and graduate recruitment – a brilliant example of a business using the fund to unlock potential and create jobs in the regional economy.”
Like this story? Why not sign up to get the latest business news straight to your inbox.