Page 2 – Northern Powerhouse Investment Fund

Product information platform set for further US growth after £4m fundraise

Pimberly – a Manchester-based company whose Product Information Management (PIM) and Digital Asset Management (DAM) software helps businesses to boost eCommerce sales – has raised a further £4m from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), and Mercia’s own funds.

The latest funding round, which brings the total raised to date to over £14m, will enable it to enhance its platform, expand its US operation and make further inroads into the European market.

Pimberly’s platform helps manufacturers, distributors, brands and retailers to manage the data and digital assets required to create, market and sell their products. It brings product specifications and digital assets such as images, video, documents and 3D all together in one place, providing access to up-to-date accurate information. The platform is used by a host of leading brands including Footasylum, Monsoon, JD Sports, Cotton Traders, Dover Sadlery and Harvey Nichols.

Mercia and NPIF first invested in Pimberly in 2018. Since the last funding round in 2021, the company has increased UK staff numbers from 47 to 75, doubled the number of customers to around 115 and opened a US office in New York. It has also added market-leading AI features to its platform to improve its ability to handle complex data and create compelling SEO-optimised product experiences. Pimberly expects to create around 20 new jobs in the UK in the next two years, as well as growing its team across the US and Canada.

Martin Balaam, CEO of Pimberly, said: “The leading e-commerce businesses now sell on multiple marketplaces around the world, which means they have to list their products on numerous different sites and in different languages. Our product helps them to enrich their product information with more relevant data, images, videos and 3D visuals and improve the customer’s shopping experience.

“Our growth to date would not have been possible without the backing of our investors, and we are pleased to secure their continued support. It demonstrates that Northern tech businesses seeking funding do not need to look outside the region – the investment they need is available on their doorstep.”

Debbie Sorby, Senior Manager, British Business Bank, said: “As consumer behaviour evolves, we’re seeing an increase in e-commerce and a need to have effective solutions to service this demand. Product Information Management(PIM) and Digital Asset Management (DAM) software provides this, and offers solutions to a global network of clientele, strengthening economic performance on a large scale. The Northern Powerhouse Investment Fund remains dedicated to helping businesses like Pimberley thrive by providing finance to support ambitions, boost employmentuzanne and provide further opportunities for growth. It’s a pursuit we’ll be continuing with the upcoming launch of NPIF II”.

Mercia was investing from its NPIF funds under management and its Northern Venture Capital Trusts (VCTs). Will Clark, a Managing Director in Mercia Ventures, added: “The North West of England has built a strong track record for e-commerce, which stems from its role as a centre for the mail order catalogue industry and the textile trade before that. Pimberly builds on that tradition and is increasingly being recognised as a global leader in its field. The company has been expanding steadily and has created a strong foundation in the US market. This latest investment will help Martin and the team to accelerate its growth and take the business to the next level.”

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.

Enterprise Ventures Limited is authorised and regulated by the Financial Conduct Authority (FRN: 183363). EV Business Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 443560).

Editors Notes

Acquisitive Manchester-based digital marketing agency boosted by £100k NPIF loan

Digital Media Stream, a Manchester-based digital marketing agency, has secured a £100k loan from NPIF – River & GC Microfinance, which GC Business Finance (GCBF) manages in partnership with River Capital as part of the Northern Powerhouse Investment Fund (NPIF).

Founded in 2011 by Simon Leeming and Dave Watson after working in sales at an American software company together, Digital Media Stream was established to combine their sales experience with marketing. The business quickly achieved strong growth and is now a Diamond HubSpot Solutions Partner, offering CRM implementation projects with retained marketing services.

Digital Media Stream initially secured an £18,000 Start Up Loan through the British Business Bank and delivered by GCBF in 2014. Using the loan to help scale the business, the team has also utilised a number of other services through the Growth Company, having recently attended workshops organised by the Growth Hub.

In 2023, Digital Media Stream acquired Bespoke Digital, a marketing agency with over 20 years’ experience in digital marketing. Subsequently, the team grew to 22 people, along with implementing a new management structure.

To further scale the business, the Digital Media Stream team worked closely with GCBF, helping to guide them through the application process. This allowed Digital Media Stream to focus on integrating both businesses seamlessly to offer customers the best possible service.

With the NPIF loan in place, Digital Media Stream has ambitious plans for the future and is looking to increase its revenue to £2m. The business also plans to further invest in its talent and technology, building on the increased skillset it gained from the acquisition of Bespoke Digital to enhance the service it offers to clients.

Simon Leeming, co-founder of Digital Media Stream said: “We are incredibly proud of what we have achieved since founding Digital Media Stream in 2011. The last year has been particularly exciting for us, with the acquisition of Bespoke Digital and the expansion of our team. To allow us to continue delivering on our market leading proposition, it was clear additional funding was needed.

Andy and the team at GCBF have supported us throughout our entire journey, from start up to expansion, with this latest loan testament to their ability to understand our business goals. With the new loan in place, we can continue to invest in our people further and support even more clients.”

Andy Nichols, senior loan manager at GC Business Finance, added: “The growth Digital Media Stream has achieved since receiving a Start Up Loan is incredible. Since working with the business in its early stages, the teams’ entrepreneurial spirit and determination was clear, so I am pleased that we have been able to support them again.

The new loan comes at an exciting time as the business enters its next stage of growth following the acquisition of Bespoke Digital. The success of the team showcases the strength of talent in the Northern business environment that we are proud to support through our funding. I look forward to seeing what is next for Digital Media Stream.”

Keira Shepperson, Director at the British Business Bank, said: “Digital Media Stream has shown significant growth, first from securing funding through the Start Up Loans programme and now through the Northern Powerhouse Investment Fund. This is an excellent example of Northern talent flourishing and exemplifies why it is so important to invest in regional support. I look forward to seeing how the Digital Media Stream team will grow, creating more jobs in the North and boosting economic prosperity.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

The MSIF group of funds are managed by River Capital Management Ltd 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.

Editors Notes

Visionary growth for optician thanks to £50,000 NPIF – BEF loan

A Leeds-based optician and eyewear business has invested in stock and people following a £50,000 loan from NPIF – BEF & FFE Microfinance, which is managed by BEF and FFE Microfinance, and part of the Northern Powerhouse Investment Fund.

Established in 2017, Eye Room has been a beacon of eye care excellence in Leeds, West Yorkshire. Strategically located near the heart of city, the business offers optometry and optician services for eyesight testing and sells contemporary designed glasses, sunglasses, and contact lenses from its retail store and online at www.eyeroom.co.uk.

The business is owned and run by husband-and-wife team, Tomas and Hafiya Oppedal, who pride themselves on providing a level of customer care that is often missing from the high street. The business aims to offer high quality and individuality at realistic prices. Customers are afforded a retail experience that offers them the time and support required to choose from a comprehensive range of contemporary designs from the UK, Scandinavia and beyond.

In a bid to expand its customer base, Eye Room turned to Business Enterprise Fund (BEF), a trusted finance partner with a track record of supporting local businesses. Having previously received a Start Up Loan from BEF, Eye Room was well-acquainted with the organisation’s commitment to fostering growth for businesses unable to secure funding from high street lenders.

With the support of Mark Iley, Senior Investment Manager at BEF, Eye Room secured a £50,000 NPIF microfinance loan backed by the Recovery Loan Scheme (RLS). This strategic infusion of funds has enabled Eye Room to boost its marketing efforts, expand its eyewear inventory, and expand its working capital.

This investment has resulted in the creation of one full-time job and one part-time job, while simultaneously safeguarding three existing positions. This, fortified the local workforce and contributed to the economic vitality of the region.

In the words of co-founder Tomas Oppedal: “Our partnership with BEF has been instrumental in realising our growth aspirations. This NPIF loan has empowered us to better serve our community and expand our horizons.”

Eye Room’s remarkable journey, from a vision for outstanding eye care to becoming a thriving eyewear provider with an enriched workforce, showcases the profound impact strategic financial support can have on local businesses. It exemplifies the shared commitment of Community Development Finance Institutions (CDFIs) like BEF, the Northern Powerhouse Investment Fund, and Eye Room to fostering growth and making a positive impact on the communities they serve.

Mark Iley, Senior Investment Manager at BEF said: “Start-up and scale-up phases are two critical stages of business growth. We take immense pride in supporting businesses like Eye Room whose dedication to excellence is truly commendable. We are delighted to be part of their growth journey and wish them every success.”

Debbie Sorby, Senior Manager, British Business Bank said: “Eye Room’s ability to bring high quality services at affordable prices is crucial in the current economic climate, and it is something everyone can benefit from. The Fund is dedicated to investing in businesses serving the heart of its community, and meeting needs with accessible, high quality and essential products.

“With an increase in digital working, the demand for optometry services is growing, not least for products at affordable prices. As Eye Room expands it will inevitably increase its staff numbers, and the investment will play an important role in facilitating this job creation and security. We look forward to helping Tomas and Hafiya expand their customer base across Yorkshire and beyond.”

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 (NPIF) 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.

Business Enterprise Fund is authorised and regulated by the Financial Conduct Authority (FRN: 726237)

Donbac Limited t/a Finance For Enterprise are Authorised and Regulated by the Financial Conduct Authority under FRN 718612. Information Commissioner Office Registered Z153621X

Editors Notes

Growth and jobs boost for Manchester firm following six figure funding

Leigh based Karas Plating is planning for future growth and new job creation after receiving a six-figure investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment.

Based in the historic town of Leigh in Greater Manchester, Karas Plating has over 70 years of experience providing high quality electroplating, surface coating, and metal finishing processes to clients across the UK. With a well-earned reputation for reliability and customised solutions, they have clients in key sectors, including the automotive, aerospace and advanced manufacturing sectors to name just a few.

The loan from NPIF-FW Capital is enabling the purchase and commissioning of a bespoke, automated silver-plating line which will improve efficiencies, helping the company to support the expanding Busbar market which will underpin their growth aspirations. A busbar is a metallic strip or bar that acts as a medium to distribute power in a system. It is an essential component used in all manner of applications from electric vehicles to power generation and distribution. The Busbar market size was valued at over USD 19.2 Billion in 2022 and is set to grow at a rate of over 5.1% by 2032 (Source: GM Insights). The investment will also help to create six new roles in the business over the next three years.

Alan Pennington, Managing Director at Karas Plating said: “We’ve established ourselves as a name to be relied upon in the plating industry with an extensive range of processes, each performed by our fully-accredited and highly-trained staff. Our sector is very niche and we’re constantly adapting to the increased demands for our processes. The investment from FW Capital has been instrumental in assisting our growth ambitions and enabled us to expand our capabilities with the addition of the automated silver-plating line. Steve Molyneux at FW Capital has been very supportive throughout the whole process.”

Steve Molyneux, Investment Executive at FW Capital added: “Karas Plating Ltd is a long-established business with a really strong reputation in the market that they serve. I was really impressed with the management team and their clear growth strategy and was therefore delighted to assist them with their plans. The new automated silver-plating line will provide additional capacity, whilst further enhancing their proven expertise in the industry. I look forward to following the firm’s future growth and success.’

Debbie Sorby, Senior Manager at the British Business Bank said: “We’re proud to support ambitious companies like Karas Plating as it embarks on its growth journey. The investment was a catalyst for Karas Plating, allowing it to enhance efficiency and expand its market reach. This investment not only drives innovation in the business but creates valuable employment opportunities, underscoring our commitment to fostering economic prosperity in Greater Manchester and beyond.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Acorn Construction boosted with six figure NPIF funding

One of the UK’s largest providers of indoor and outdoor scaffold-based temporary structures and staging is focused on growth after receiving a six–figure investment from from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

Headquartered in Sherburn-in-Elmet, Leeds, Acorn Construction works with clients from various industries and sectors including film, tv, festivals, concerts, exhibitions, parties, sports events, arts, and theatre. The company provides innovative and cost-effective solutions to fulfil the staging and temporary structure needs of all sizes, style, and scale. Clients include the BBC, Creamfields, ITV Studios and the Goodwood Festival of Speed.

The loan from NPIF – FW Capital has helped Acorn Construction to invest in the growth of the business and launch a new black Truss designed stage into the market. This is a unique product that offers a higher capacity loading for production equipment and a black structure instead of the traditional aluminum structures. Acorn Construction has also created ten new jobs.

Rebecca Nutter, Managing Director at Acorn Construction said: “We’ve built up an established reputation for the quality and innovative nature of our staging and structures which suit a variety of uses. We have created this new stage following customer demand for a black structure that can withstand the increased load capacity that is needed at festivals and concerts due to all the lighting and staging equipment needed. It can be difficult to obtain funding for this type of asset but the flexibility of the investment from FW Capital has been important. On the back of this funding, we are also looking at other new opportunities to develop the business further. I’ve been happy with the support from FW Capital – Lindsey has taken the time to understand our business and provided us with a personal approach.”

Lindsey McMenamin, Portfolio Manager at FW Capital added: “Acorn Construction operate in a niche market and is known for excellence in their field. This is another great example of how NPIF funding is helping business growth with the launch of a new unique stage in response to customer demand. I’m thrilled to be supporting Rebecca and the team on their journey to further success and expansion.”

NPIF – FW Capital Debt Finance can provide loans in the NPIF region with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire, Merseyside and the Tees Valley.

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Cheshire art and antiques auction house receives funding boost

One of the UK’s leading online art and antiques auction houses, Wilson55, is focused on growth after receiving an investment boost which has helped to expand its workforce.

Based in Nantwich, Cheshire, Wilson55 has used funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund, to support their growth ambitions and create two new positions.

Last year employees Stephen and Sharon Sparrow completed a management buyout of Wilson55 and are using the investment from FW Capital to support their growth plans after taking over the business. This includes the appointment of James Spiridion, a highly experienced 20^th century design specialist and graduate Anna Lambert who is being trained within the business as an art department assistant.

Founded in 1955, Wilson55, previously known as Peter Wilson Fine Art Auctioneers holds a calendar of auctions each year for both traditional and new collecting fields using its customised salesroom with over 8,500 square feet and three showrooms. Auctions run online with platforms in the UK and internationally. The Wilson55 team are long-established members of the Society of Fine Art Auctioneers and well recognised throughout the industry and have featured in shows including Bargain Hunt, Antiques Roadtrip and Dickinson’s Real Deal. The new appointments have seen the team grow to ten.

Laura Rees, senior investment executive and Lewis McMullin, portfolio executive assistant from FW Capital have supported Stephen and Sharon Sparrow with this investment.

Stephen Sparrow, Managing Director at Wilson55 said: “We’re coming up to the first year anniversary of acquiring the business and moving from being employees. It’s been a very busy time with sales and we’ve been focused on building the foundations of the business. The growth we have enjoyed has meant we needed to strengthen our team. We’re delighted to welcome Anna and James to Wilson55 and their addition is a fantastic boost for the business. The financial backing and support from Laura Rees and Lewis McMullin at FW Capital has been great, recognising and helping us to achieve our growth ambitions.”

Lewis McMullin, Portfolio Executive Assistant at FW Capital said: “Stephen and Sharon have many years’ experience and market knowledge in the field of art and antiques. Their success is evident with the growth of Wilson55 which is a fantastic, well established business. To take ownership of a business you have previously worked for is a big step and since Stephen and Sharon took control last year they have gone from strength to strength.”

Keira Shepperson, Director, British Business Bank, said: “Investment can play a significant role in a business, and, in the case of Wilson55, it enabled the team to hire more people to assist in continuing their impressive growth journey. The creation of jobs is a key goal for the Northern Powerhouse Investment Fund, so it is hugely important that all parts of the economy, including the arts industry, are included in reaching that goal.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

From skins to sporrans – loan will help leather supplier open up new markets

A Yorkshire leather merchant that is also a leading supplier of traditional Highland dress and menswear has secured a £265,000 loan for expansion from NPIF – Mercia Debt Finance which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

J Wood Leathers is one of the top leather wholesalers in the UK, supplying a wide range of skins and hides to customers including high street retailers and clothing manufacturers. Following a request to supply kilt straps over 18 years ago, the company has built a thriving trade selling highland wear ranging from sporrans to kilt hose and ghillie brogues. It also runs an online shop supplying skins and craft products to hobbyists.

Based in Keighley, J Wood was established 25 years ago by Julian Wood and his wife Margaret. Their son Jack, who joined as a school leaver 15 years ago, took over as managing director in January this year. The funding will help him pursue his growth plans which include expanding online sales and product ranges.

Jack says: “I’m proud to take over the family business which my parents worked so hard to build. J Wood Leathers is well established in the UK leather industry, however the internet is opening up new opportunities for traditional businesses like ours. We are keen to raise the profile of our J Wood Highland brand and develop new product lines. With increased interest in crafts and hobbies, there is also potential for us to offer a one-stop shop to supply this market and build online communities.”

Gary Whitaker of Mercia Debt added: “Jack is bringing fresh ideas to this established and successful family business, and has already succeeded in boosting sales through initiatives such as the launch of the online store. This funding will enable him to open up new markets and increase stock levels to keep up with growing demand.”

Nicola Hudson of Walkers Accountants in Keighley and Taryn Preen of ABL Business provided fundraising advice to the company.

Debbie Sorby, Senior Manager, British Business Bank, said: “As a family business boasting a one-of-a-kind product line, the decision to invest in J Wood Leathers underscores the Fund’s dedication to broadening financial opportunities for businesses across diverse sectors.

“Our commitment extends beyond an investment – it’s about fostering vibrant local economies by fueling job creation within the businesses we support. With J Wood Leathers poised to expand its online footprint and meet rising service demands, this investment represents a pivotal step in propelling the company forward on its journey of growth and success.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

Editors Notes

Investment boost for the North East firm transforming diabetic retinopathy

North East bio-photonic research and development company PolyPhotonix has received a six figure investment from NPIF-FW Capital Debt Finance to assist a ground-breaking product which can help to save the eyesight of diabetes patients.

The Noctura 400 Mask is an non-invasive, low cost treatment for Diabetic Retinopathy, one of the most common causes of blindness. It is used by patients at home every night during sleep and delivers a low level of light though closed eyelids to prevent their eyes from dark adapting. This manages the nocturnal oxygen demand of the retina during the night and avoids the risk of retinal hypoxia, which is key in the mechanism of retinopathy development in patients with diabetes.

In clinical trials Noctura 400 has been found to improve or stabilise sight loss in diabetics. It is a home-based monitored treatment and costs a fraction of current treatments. The current treatment pathway is to simply monitor patients who have early signs of the disease until their eyes deteriorate and qualify for treatment. By offering the Noctura 400 sleep mask at this earlier stage, patients’ vision is preserved, referrals into hospital clinics are reduced and the later stage expensive and invasive injections are avoided, saving around £3K per patient per year.

PolyPhotonix has a customer services centre in Tees Valley as well as an office in South Durham. The company has received the investment from NPIF – FW Capital Debt Finance which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

The funding is supporting the new customer service centre and promotion of the Noctura 400 mask here in the UK following a partnership agreement with Embecta, one of the world’s largest diabetic treatment companies. In November 2022, the Noctura 400 received UK NHS approval which led to the Embecta agreement which will see the product being sold in the UK and Ireland, with other countries to follow. The product also has regulatory approvals in Europe, Brazil, Hong Kong, Singapore and Argentina.

Richard Kirk Chief Executive Officer, at PolyPhotonix said: “The concept of the Noctura 400 is very simple because it’s an eye mask that is worn at night that delivers low level light at your home at significantly reduced cost to the expensive eye injections and laser treatments available in hospitals. I’m very proud of where we are today and the difference this product is making to diabetic patients who are worried about losing their eyesight. It’s a real game changer and is extremely efficacious.

“For most people maintaining good eyesight is paramount and Noctura 400 represents an easy choice. It is safe, easy to use, pain free, non-invasive, and it does not take up their valuable time in that they are treated whilst they are asleep. It avoids having to attend increasingly frequent hospital appointments, Maintaining their eyesight means they can continue to drive, preserving their independence, ability to work, supports good mental health and overall quality of life.

“The partnership agreement with Embecta is very important to us because it gives us a bigger voice, opening more doors for us. There is also enormous potential globally because we can treat patients at a fraction of the costs using this disruptive technology which tests have shown also improves eyesight. The funding from FW Capital is helping us to achieve our goals. Keith and his team have been very accessible and made this a smooth process.”

Keith Charlton, Fund Manager at FW Capital added: “PolyPhotonix is transforming diabetic eye care and it’s non-invasive and cost-effective approach is benefitting both healthcare providers and patients. It’s an exciting time for the business as it drives forward. There is enormous potential for growth overseas too. The management team is highly experienced, and Richard is very well regarded in the sector. I’m delighted to help PolyPhotonix with this funding which will help them to bring the Noctura 400 Mask to more NHS healthcare providers and their patients.”

Keira Shepperson, Director, British Business Bank, said: “This deal is evidence that Northern businesses are spearheading the advancement of medical technology, and it is brilliant to see the Northern Powerhouse Investment Fund playing a role in bringing PolyPhotonix’s product to life. The deal also shines a light on the incredible innovation coming out of Tees Valley, a region that is becoming a key pillar in delivering a thriving Northern economy.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Metrology firm secures funding to launch new demo centre

A Sheffield company that is one of the UK’s leading suppliers of metrology equipment has secured a £200,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, to help it open a new demonstration centre.

Digital Micrometers (DML) supplies precision measuring equipment used in industries such as medical, aerospace, construction and manufacturing to ensure that products are made to the right size and specifications.

The company, which has tripled its turnover in the past two years, has just moved to larger 5,000sq ft premises in Sheffield to accommodate its growth. The funding will enable it to increase its stock levels and create a new demonstration centre within the building that will be the largest of its type in Yorkshire.

Digital Micrometers was founded in 2009 by engineer Allen Bentley, the current finance director. His son Alex took over as managing director two years ago and is now spearheading its growth plans. The company, which currently employs six staff, supplies equipment from leading brands such as Mitutoyo, Bowers, TESA and Sylvac and sells through its online shop and its sales team. It plans to create three new jobs in the year ahead.

Alex Bentley said: “Metrology plays a key role in industry and demand is increasing rapidly, as more companies choose to manufacture in the UK or invest in new technologies and metrology equipment. The funding will support our long-term growth plans by enabling us to carry more stock to meet demand, and showcase larger and more complex items of equipment.”

Andy Tyas of Mercia Debt added: “Digital Micrometers has built a thriving online business that is going from strength to strength, however customers buying costly items still like to see a demonstration. The new demo centre will enable the company to sell more expensive equipment and give Yorkshire companies the chance to see the latest metrology systems from all the leading brands.”

Keira Shepperson, Investment Director, British Business Bank, said: “Digital Micrometers has tripled its turnover in the last two years, providing an excellent example as to how NPIF invests in ambitious businesses. The opening of its demonstration centre in Sheffield will attract a multitude of industry professionals, looking to purchase equipment to service commercial needs across the UK. We’re proud to have invested in a business that boosts the Yorkshire economy from its core.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

Editors Notes

JRC Roofing Distributors’ growth leads to new premises

JRC Roofing Distributors (JRC) has relocated its main depot to larger commercial premises after receiving a six-figure funding boost from NPIF-FW Capital Debt Finance which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

JRC are highly experienced slate suppliers, specialising in sourcing and delivering slate and roof tiles from around the globe. As a well-established name within the roofing industry, JRC supply quality roofing slate across the UK. In addition to the wide range of natural roofing slate, JRC also provide a comprehensive range of ridge tiles, copper nails, chimney pots and accessories for over 23 years.

The business had outgrown its previous premises in Burnley and have recently moved to a 0.84 acre site at Further Lee Farm, Burnley Road in Colne. The prestigious site includes a Grade II listed house with offices in a prominent roadside position at the end of the M65.

Rosie Connor, Planning Director at JRC explained: “The move has come about because we needed more space to accommodate our growth and new product development. This has been made possible thanks to the hard work of our fantastic team who have all played a key role in our expansion. The new premises in Colne provides a much larger and better positioned location. We currently focus on business-to-business sales, but we have plans to expand into direct customer sales via our merchant network. Our new location offers us a prime position to do this because we’re situated on the edge of a retail park. The funding from FW Capital, has enabled us to purchase the property. The whole process was very smooth. Laura Rees was fantastic – very efficient and offered us advice even on things we didn’t realise we needed. We had to move fast to complete the purchase and Laura acted very quickly to ensure we received the financial backing we needed. ”

Laura Rees, Senior Investment Executive at FW Capital worked with the team at JRC to understand and support their growth plans with the six-figure investment.

Laura Rees, Senior Investment Executive at FW Capital added: “I’m delighted to help JRC with the funding they required. The business has been enjoying significant growth and their previous depot was restricting further growth because of the limited capacity available. The new site is unique, comprising of an extensively refurbished, Grade II listed detached house with adjoining high specification offices and offers plenty of space to accommodate JRC’s growth aspirations as they seek to expand their product range. I wish JRC every success and look forward to seeing how the business develops over the coming years.”

Debbie Sorby, Senior Manager at the British Business Bank said: “We take pride in supporting ventures like JRC Roofing, that not only contribute to regional economic vitality but also align with our shared vision for a prosperous Northern powerhouse. We’re looking forward to supporting the team as they continue their exciting journey ahead, expand their physical footprint and contributing to the economic vibrancy of the North.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes