“FW Capital has been a valued supporter of IMH for several years and really goes the extra mile to understand our business.”
Founded in 1983, IMH is a family-run business established by hydraulic engineer Paul Griffiths, whose son James is now Managing Director.
The company has extensive experience of providing hydraulic engineering expertise and solutions to sectors including oil and gas, marine, subsea, energy (including renewables), nuclear, infrastructure, manufacturing and automotive. IMH offers services across design, manufacturing, installation, commissioning, maintenance, and repairs, as well as component supplies and training
The company has steadily expanded into a global industry leader with 40 employees and has completed major projects worldwide.
FW Capital has worked closely with the Middlesbrough-based firm since 2018. The business initially received an investment from the Tees Valley Catalyst Fund, managed by FW Capital. The £300,000 short-term loan enabled IMH to fulfil its bond requirement on a £2 million contract working the Boston Flood Defence System for BAM Nuttall and the Environment Agency.
The advance payment guarantee and performance bond meant the company could enter into the contract and retain their working capital.
A £500,000 loan from NPIF - FW Capital Debt Finance in 2019 enabled IMH to secure a major contract and employ more specialist hydraulic engineers. The investment supported business growth and help to create 10 new jobs.
Most recently, IMH secured a £250,000 loan from NPIF - FW Capital Debt Finance, backed by CBILS. This loan will provide working capital amidst potential delays to projects caused by Covid-19 pandemic, whilst also safeguarding jobs in the business. In addition to solving immediate business challenges, this investment will aid the business as it prepares to bounce back and regenerate its long-term growth strategy.