Programme:Northern Powerhouse Investment Fund
A Manchester-based specialist healthcare provider received a substantial investment through NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund.
Founded in 2013, Northern Healthcare Limited offers supported living services for people living with mental health conditions, autism and learning disabilities.
Residents receive a package of support that includes risk management, clinical input from a registered mental health nurse, occupational therapy, 24-hour support and personalised assessments. Northern Healthcare offer discharge support for long-term mental health care enabling individuals to regain their independence, and hospital avoidance pathways for individuals who may require short-term or ‘crisis intervention’ support before returning home.
Under the leadership of directors Ashley Mancey-Johnson, Anthea Gribbin and Daniel Flaherty, Northern Healthcare has quickly evolved to become a national organisation employing over 200 staff, with 13 services across the North West including Cumbria, Yorkshire and the Midlands.
FW Capital provided the investment to support the future growth of the business enabling more people across the UK to access the right level of mental health support in their own community.
Managing director Ashley Mancey-Johnson said: “We have developed a unique clinically led, recovery focused support model which provides individuals with dedicated 24-hour support in high quality accommodation.
“Our service, like many others, felt the impact of COVID-19 in various ways. This loan has helped ensure that as soon as restrictions were eased, we were able to get straight back to growing our service portfolio and helping more individuals on their recovery journey.
“FW Capital were fantastic to deal with and were able to make quick decisions which made the process run smoothly. We are really pleased to have them on board as investors.”
FW Capital senior investment executive Andy Traynor said: “I was impressed by the team at Northern Healthcare. They have grown a fantastic company with a very distinct business model which is a platform for further significant growth in this much needed sector.’’
Sue Barnard from the British Business Bank said: “From its Manchester base, Northern Healthcare is providing a critical service to people in-need across the country and the value of its service to the communities it operates in is reflected by its rapid growth. Investments such as this, into forward-thinking business with an important purpose, demonstrates how NPIF is making a real and measurable difference to businesses across the Northern Powerhouse region, in turn helping to create a more prosperous regional economy.”
FW Capital provides loans of £100,000 to £750,000 to businesses based in the NPIF region with a focus on the North West, Cumbria and 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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