A building contractor that has enjoyed “double-digit” turnover growth says it is primed to grow still further after winning investment through the Northern Powerhouse Investment Fund II (NPIF II).
Knowsley-based Carroll Group specialises in working with housing associations and has grown on the back of new construction contracts across the North West. It already employs 50 staff and works with some 500 indirect sub-contractors through its supply chain.
Now the family firm has secured a six-figure loan through NPIF II – FW Capital Debt Finance to help it grow to meet rising demand, and says it will create 10 more jobs in the next year.
Terry Carroll, managing director at Carroll Group said: “We’ve been on a growth journey for the last three years which has seen our turnover increase steadily, with double digit growth over the last year. We’re expanding our services across the North West, looking at new work streams to add to our current projects. These include a series of new builds with a focus on social and affordable housing where the demand is high in our region. I’m proud of what we’ve achieved, and this is real family business, working alongside my wife, son, sister-in-law and cousins.
“The investment from FW Capital gives us increased confidence to grow thanks to a significant working capital injection.”
Caroline Turley, investment executive at FW Capital, said: “Terry comes from a strong construction background. When he set up Carroll Group in 2022, he was able to draw on his extensive experience and has created a successful family business.
“This is a difficult sector but Terry and the team at Carroll Group are recording impressive growth and aspire to be one of the Ƶ’s top providers of new build construction services. This is a fast-expanding business which is focused on social housing in the North West that is led by a strong team with a proven track record.”
Sue Barnard, senior investment manager at the British Business Bank, said: “With housing high on everyone’s agenda, it’s great to see NPIF II backing ambitious businesses that are driving real progress in this space. This kind of support is enabling regional growth, job creation, and long-term impact across the North West, and is a strong example of how targeted investment can help tackle some of the Ƶ’s most pressing challenges.”
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