Partner:BFS & MSIF
Programme:Northern Powerhouse Investment Fund
Warrington-based civil engineering and groundworks company, Oxton Civil Solutions received a £50,000 investment from NPIF through BFS & MSIF Microfinance, managed by MSIF in partnership with GC Business Finance as part of the Northern Powerhouse Investment Fund.
Formed in 2020, Oxton Civil Solutions [OCS] was launched by founding director Darryl Oxton after his previous place of work ceased trading. Having worked in the civil engineering and groundworks trade for most of his working life, Darryl took this opportunity to launch his own business.
OCS now provides engineering project solutions to private contractors, public and private partnerships, in addition to government-backed initiatives. Through Darryl’s experience as an engineer and his known quality of service, he has been able to bring a following of loyal clients from his previous role to OCS, with the hope to grow the company in the coming year.
The £50k funding boost will allow OCS to not only take on further contract opportunities, but to increase their current workforce by bringing in a wider team of experienced engineers.
Oxton Civil Solutions Director, Darryl Oxton said: “Working with MSIF has been a seamless experience, the funding has given us a huge opportunity to grow Oxton Civil Solutions with bigger projects and more staff. Sue has been a massive support for OCS, assuring that we got relevant funding and support from the start of our working relationship.
“Due to the negative impacts of coronavirus, Kieran, our newly employed Office Manager had been struggling to secure stable employment. With the help from MSIF, we were able to offer him a secure position within the company.
“Our team are proud to be able to offer employment in the current climate. We feel we would not have been in this position without the NPIF funding. Not only has this helped us to secure employees, but it has also helped with cashflow moving forward for bigger projects.”
Sue Chambers, Investment Manager added: “We are delighted to have been able to support Darryl with his new venture. Oxton Civil Solutions has a great opportunity to scale and grow, despite the current economic climate. Daryl will achieve this by drawing on his existing reputation of quality of work and providing excellent service to his clients. I look forward to seeing what 2021 will bring for OCS.”
Sue Barnard at British Business Bank said: “Oxton Civil Solutions is an ambitious Northern business at a key moment in their growth journey. The NPIF investment will secure the future of its workforce and create new specialist jobs in the region. With the UK economy looking to recover from the impact of the pandemic, NPIF will continue to play a central role across the North.”
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.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.
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