FW Capital has achieved a significant £5 million funding milestone, reinforcing the resilience of Northern businesses. This milestone has been reached through investments under the Northern Powerhouse Investment Fund II (NPIF II), facilitated by the British Business Bank.
FW Capital, a specialist in SME finance, has reached a pivotal funding milestone by investing over £5 million into Northern businesses through NPIF II. This initiative, launched by the British Business Bank earlier this year, has enabled FW Capital to support 14 diverse enterprises, including those in manufacturing and education, with the average deal size approximately £350,000.
The most recent beneficiary, Prime Transport Planning, a Liverpool-based consultancy founded in 2016 by David Schumacher, has received a substantial ‘six-figure’ investment. Prime Transport Planning collaborates with developers, architects, and local authorities to deliver specialised transport planning services. This funding will be utilised to invest in new technology and bolster the consultancy’s senior team.
David Schumacher, expressing the impact of the funding, stated, “Increased demand for green energy, additional housing, warehousing, and sports and leisure activities means we are operating in a buoyant market. The new Government will also bring potential changes to planning policies that will support the delivery of projects in these sectors, so it’s crucial we are best placed to support our existing and new clients. We are leading the field with our expertise and credentials and have already welcomed two new members of the team using the NPIF II – FW Capital funding. We plan to recruit more members of staff to strengthen our team further, demonstrating our commitment to growth. The funding has made this much easier. We’re in a great position to take the business to the next level.”
Carol Bolland, an investment executive at FW Capital, remarked, “It’s great to provide the investment Prime Transport Planning need to realise their growth ambitions. The increased demand for their consultancy expertise has fueled this growth and it is a great example of a dynamic Liverpool business leading their field and expanding their customer base.”
NPIF II spans the entire North of England and disburses loans ranging from £25,000 to £2 million, alongside equity investments up to £5 million for SMEs. The NPIF II – FW Capital Debt Finance programme focuses primarily on the North West, ensuring crucial financial support for businesses in this region.
Sue Barnard, from the British Business Bank, commented, “Since the launch of NPIF II, the demand for funding has been encouraging and it is good to see FW Capital reach this important milestone. We’re looking forward to increasing our support to businesses across the Northern Powerhouse region. Firms like Prime Transport Planning are a fantastic example of how NPIF II is helping support expansion. The increased demand for transport planning services has resulted in a period of high growth for Prime Transport Planning. The business is now looking to expand the team to drive further growth, and the NPIF II funding will allow it to bolster both its senior leadership and graduate recruitment – a brilliant example of a business using the fund to unlock potential and create jobs in the regional economy.”
The success of FW Capital in reaching this £5 million milestone exemplifies the vital role of NPIF II in fostering business growth and job creation across the North of England. The support provided to Prime Transport Planning highlights the fund’s impact in enabling businesses to achieve their growth aspirations and solidify their market leadership.