Lancashire based, Stone UK has received a £100,000 follow-on investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
Stone UK is a specialist supplier of natural, high quality English stone sourced from quarries in Yorkshire and Lancashire. The firm also has extensive experience of stone reclamation, providing products of the finest quality. Stone UK’s range offers the choice of newly quarried or reclaimed stone for building projects, Yorkstone paving and setts.
With over 20 years’ experience, Preston based Stone UK has worked with many high-profile clients, including providing reclaimed Yorkstone for the Sandringham Estate. Another successful project saw Stone UK supply bespoke Yorkstone paving for the historic Blenheim Palace, the birthplace of Sir Winston Churchill.
Stone UK will use the NPIF – FW Capital funding to support ongoing growth including the innovation of new product lines and the creation of four new roles.
The investment is the second round of FW Capital funding for Stone UK, following on from a £250,000 loan in 2017. The deal was facilitated by FW Capital Portfolio Executive Alistair Igo.
David Evans, Stone UK Director, said: “At Stone UK, we are passionate about supplying the highest quality, natural English stone. Our team of skilled stonemasons use their expertise to create a wide range of stunning, timeless pieces. We love seeing the visual impact our stonework can have on a building project and are proud to be able to offer a natural material that stands the test of time.
“The funding from NPIF - FW Capital will allow us to create four new jobs and continue to grow our business. We have found NPIF - FW Capital to be an extremely helpful funding partner, with a straightforward and efficient process in place to help us get the investment we need. We are really grateful for the support we received.”
FW Capital Portfolio Executive Alistair Igo said: “Stone UK is a long-established business with an impressive turnover and client list and an unparalleled reputation for quality. Since our first investment in the business in 2017, Stone UK has continued to go from strength-to-strength. We are delighted to have been able to offer this follow-on funding to continue to support Stone UK’s growth ambitions and create new jobs.”
Sean Hutchinson at the British Business Bank, said: “We are pleased to see NPIF continuing to support business communities in the North with vital funding. This latest round of investment will make a measurable impact to Stone UK’s services, helping to grow the team and meet market demand. Supporting ambitious growing businesses like Stone UK with the correct financial support is key to bringing economic growth across the region.”
Debbie Francis OBE, Chair of the Lancashire Enterprise Partnership, said: ”It’s fantastic to see that another Lancashire-based company will be able to realise its growth goals and create more jobs in the region thanks to the Northern Powerhouse Investment Fund.
“Stone UK is a successful business with an impressive client list and high-quality product sourced from our stunning Lancashire landscape. I wish them the best of luck with the next stage of their growth plans.”
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.