Stockport-based Computeam has secured a six figure investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund, to support its further growth.
The funding boost will support the firm’s growth strategy, which plans to achieve 40-45% year on year growth this year. The investment will support Computeam’s bids on a number of major government supply contracts into the education sector, most notably for schools taking advantage of the Department for Education's Connect the Classroom project. The programme provides funding for schools in eligible areas to upgrade their wireless network infrastructure. Computeam also plan to create 20 new jobs over the next three years as part of this growth.
Computeam are education specialists, providing IT services and products to help schools and multi-academy trusts inspire learners and improve educational outcomes. Services it provides include IT support, internet connectivity, network installation, audio-visual technology and Cloud technologies, including both Microsoft and Google platforms. Employing over 80 people, Computeam operates from its headquarters in Stockport and has offices in Taunton.
The investment was provided by Adam Husband, Senior Investment Executive at FW Capital.
Owen Napier, Chief Executive Officer at Computeam said: “In the short term the funding is helping us support schools who are taking advantage of the Department for Education's Connect the Classroom project. By upgrading network technology pupils can benefit from faster and more reliable access to online resources which will enhance their learning. The projects we are undertaking present a substantial uptick in our growth. This year we are aiming for 40-45% year on year growth and, long term we aim to double our business by 2025. The working capital from FW Capital is making a key difference in supporting our plans.
“I have been impressed with the support from FW Capital. Adam Husband was great, he was very responsive and enthusiastic which has been really important and a contrast to the support we have experienced from traditional lenders. Adam listened to what we needed and as a result got under the skin of our business to really understand our plans.”
Adam Husband, Senior Investment Executive at FW Capital said: “Computeam are trusted specialists in the sector and work in partnership with a variety of education providers across the UK. I’ve been impressed with their growth and I am delighted to help them to secure funding to support new business wins and future expansion. Computeam’s ethos is centred on improving educational outcomes using technology and this investment will help drive this further.”
Keira Shepperson at British Business Bank said: “Investment into the education of children, particularly in terms of digitalisation, is both a long term and worthy venture. During the pandemic, the benefits of digitalised classrooms became prevalent, yet it was apparent that a digital divide existed across schools in the North of England. Funding from the Northern Powerhouse Investment Fund into Computeam will help address these issues, playing a role in providing children with a better overall education and enhanced opportunities for their future.”
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and the 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.