6th February 2024
A decking and fencing specialist is focused on expansion to meet increased demand after experiencing 40% year on year growth.
Lancashire-based Lakeland Verandahs has received a six-figure investment funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund. This is supporting new product development and growth which includes the launch of a new solid deck board range and associated products which include high-end quality pergolas, gazebos and garden office rooms and offices.
Lakeland Verandahs is a leading UK UPVC decking, fencing and balustrade installer with showrooms in Preston, Nantwich, and Warrington. The Lakeland Verandahs range is one of the leading decking products on the market, offering a low maintenance solution. Established in 2008, the business has experienced an impressive 40% year on year growth since inception. The latest development of the exclusive and high-end deck board range and associated products is another step forward for the growth of the business.
Russell Milburn, Founder at Lakeland Verandahs said: “Our focus is primarily aimed at the residential market and we’ve expanded our range to meet increased customer demand. We saw a significant increase in sales during Covid, which is now starting to level out again but we’re still experiencing solid growth as people are still investing in their homes and gardens. We’re looking to the future and excited to grow the business further with the launch of our new exclusive solid deck board product range in January.
“The backing from FW Capital has been key in helping us with this product development and supporting our marketing activities. It has also helped us to confidently expand our team to support our sales activities with the appointment of a new Commercial Director and sale support team. It’s been a pleasure working with Andy Traynor at FW Capital who was introduced to us by Mickey Wong at ABL Business Finance.”
Andy Traynor, Senior Investment Executive at FW Capital added: “This is a fantastic opportunity to support a long-standing business within the region. The working capital is helping Lakeland Verandahs to continue their impressive growth strategy and enhance its current offering.”
Debbie Sorby, Senior Manager at the British Business Bank said: “Lakeland Verandahs’ dedication to quality and innovation sets a sterling example in the industry. This Lancashire-based business has seen incredible growth, and its commitment to further development makes it clear that the business’ trajectory mirrors the strength and dynamism of the Northern Powerhouse. We’re looking forward to supporting the business as it embarks on this next phase of growth in its journey.”
The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.
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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