Grimsby-based foundry Fowler & Holden, part of TGM Industrial Group has received a six-figure investment from NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II).
This is the third round of funding the firm has received from NPIF & FW Capital and is being used to support the business with improved workflow, capacity and enhance the environmental impact of the site in Grimsby. It has also supported working conditions with the removal of airborne fumes and process-generated dust which forms part of the firm’s sustainability credentials and staying ahead of compliance regulations.
Fowler and Holden operates from a purpose-built plant building which was developed using funding from NPIF - FW Capital as part of the first Northern Powerhouse Investment Fund back in 2021. This increased the firm’s production and manufacturing capacity by up to 80%, helping it to provide foundry and engineering services to clients around the world. The firm’s foundry and machine shops are in excess of 20,000 square feet, housing a wide variety of modern CNC machines and traditional machine tools that allow them to provide a wide range of products and services.
Tim Brooksbank, Director at Fowler & Holden, said: “Since TGM Industrial Group acquired Fowler & Holden in 2021, we have reinvested over £1.1 million into our site, plant, and process infrastructure, with approximately £650,000 supported by FW Capital over this period. These investments are a testament to our commitment to the long-term success of our facilities and our workforce. By prioritising environmental credentials and health and safety, we are not only reducing our footprint but also creating a superior working environment for our team. We have found FW Capital to be a pragmatic and supportive partner throughout this journey."
Dave Hawkins, Portfolio Executive at FW Capital added: “We continue to be impressed by the management team’s vision and are proud to support their ambitions for growth. This latest funding cycle is instrumental in driving operational efficiency and reducing emissions, both of which are core to Fowler and Holden’s sustainability goals. Having worked with the team since 2021, this is a great example of how we provide ongoing support to help businesses scale responsibly and successfully."
NPIF II - FW Capital Debt Finance can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
