A company which provides professionally refurbished computer equipment has received a £600,000 loan through NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
Harrogate-based Intelligent Servers Ltd was founded in 2011 by its Managing Director, Andrew Hughes, and is one of Europe's leading refurbished server, storage, networking and component resellers, specialising in HPE, Dell and Cisco.
Since its establishment, Intelligent Servers has experienced year-on-year organic growth and now generates revenue levels in the region of £8m a year, delivering refurbished products to a portfolio of over 3,000 clients including the likes of Manchester United FC.
This NPIF investment will be used to fund the planned growth of Intelligent Servers by improving purchasing power, facilitating stock growth, an associated warehouse expansion and an increase in staff.
The funding has safeguarded 45 jobs and led to the creation of a further 23 roles.
The deal was facilitated by FW Capital Deputy Fund Manager Keith Charlton, supported by Assistant Investment Executive Alex Brown, following an introduction by Mel Nally, of Skipton Business Finance.
FW Capital Assistant Investment Executive Alex Brown said: “We are delighted to back Intelligent Servers, a business with a great track record of growth and a proven management team. Our investment will assist Intelligent Servers in achieving their growth strategy through maintaining higher stock levels and improving purchasing power. Best of all, this growth strategy will support significant job creation.”
Andrew Hughes, Intelligent Servers Managing Director, said: “Due to the demand for cheaper and more affordable IT equipment, used and refurbished equipment is now highly-desirable, with savings of up to 80 per cent available. This funding will allow us grow and deliver our exceptional service to more customers, while supporting us to create 23 exciting new positions at our company.”
Mel Nally, Regional Sales Director for Skipton Business Finance, said: “From our first involvement with Andrew and his team in 2019, it became clear that the business had significant potential for growth, so long as it could maintain the required stock levels to meet an ever-increasing demand.
“Earlier this year and following that continued growth, I was delighted to introduce the team to FW Capital, which I felt would be a perfect fit to help this thriving local business capitalise on further opportunities. I am pleased that the investment by FW Capital has had a very positive impact and I look forward to seeing their continued success.”
FW Capital provides loans of £100,000 to £750,000 to businesses based in the NPIF region with a focus on the North West, Cumbria and 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.