JH Mechanical & Electrical receives NPIF II investment boost to drive growth
Press release
Stockton-on-Tees-based mechanical, electrical and water management services provider JH Mechanical & Electrical has received a six-figure loan from NPIF II-FW Capital Debt Finance to support growth and the creation of new jobs.
JH Mechanical & Electrical provides a range of commercial installation, maintenance and repairs services for a wide range of clients including Newcastle and Teesside universities and local authorities such as Sunderland City Council. It also services education establishments and trusts, such as the Northern Education Trust and Vision Academy Learning Trust. The company, which was established in 2013 by husband-and-wife team John and Heather Heward, has seen its workforce grow to 44.
The NPIF II funding will support a significant new contract win in the Yorkshire region, creating 10 new jobs. FW Capital manages NPIF II - FW Capital Debt Finance which is part of the Northern Powerhouse Investment Fund II, with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.
This is the fourth round of finance that JH Mechanical & Electrical has received from FW Capital which is a long-term growth partner of the business.
Heather Heward, Finance Director at JH Mechanical & Electrical explained:
We’ve enjoyed fast growth which has led to a significant increase in our workforce over the years and we’re delighted to be adding a further 10 new roles to the team.
This new funding has made a big difference, providing working capital to support a significant new contract that increases our presence in Yorkshire. This is a game changer and will see us double the size of the business. The support from Dave Hawkins and the team at FW Capital has been invaluable. The financial backing means we’re well equipped to fulfill new contracts with increased confidence and maintain our high quality of service.
Dave Hawkins, FW Capital Portfolio Executive, said:
We’re proud to support Teesside businesses like JH Mechanical & Electrical with access to funding that is helping them to scale up. Heather and John are valued clients with an impressive business model. Their success over the years has been fantastic to watch and assisting expanding businesses like JH Mechanical & Electrical is what the NPIF II funding is all about. The business continues to demonstrate growth, and this latest new contract win is driving further job creation to the local area and expanding their services into Yorkshire.
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 Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving 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. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England.
ENDS
Further Information
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Notes to editors
About FW Capital
FW Capital is a fund management company currently managing UK-based funds of £390.8m
For further information visit https://fwcapital.co.uk/about-us/performance-and-impact
The Northern Powerhouse Investment Fund II (NPIF II)
NPIF II is a £660 million investment fund to support the growth of small and medium-sized businesses across the North of England launched in March 2024.
The Northern Powerhouse Investment Fund II is one of a series of new Nations and Regions Investment Funds launched by the British Business Bank delivering a £1.6 billion commitment of new funding to drive sustainable economic growth.
The Northern Powerhouse Investment Fund II offers a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. The fund covers the entire North of England including Greater Manchester, Liverpool City Region, Lancashire, Yorkshire & the Humber, Cheshire & Warrington, Cumbria, County Durham, Tyne & Wear, and Northumberland.
It aims to tackle an identified funding gap between the North and South of England and increase the supply and diversity of early-stage finance for smaller businesses.
FW Capital manages the £75 million NPIF II – FW Capital Debt Finance fund, part of the Northern Powerhouse Investment Fund II on behalf of the British Business Bank. Finance of £100,000 to £2 million is available to businesses in the North of England with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.
The South West Investment Fund (SWIF)
FW Capital manages the £19m SWIF – FW Capital Debt Finance fund, party of the £200 million South West Investment Fund, on behalf of the British Business Bank. Finance of £100,000 to £2 million is available to businesses in Bath and North East Somerset, Bristol, Gloucestershire and Wiltshire.
The Investment Fund for Wales (IFW)
FW Capital manages the £30 million IFW – FW Capital Debt Finance fund, party of the £130 million Investment Fund for Wales, on behalf of the British Business Bank. Finance of £100,000 to £2 million is available to businesses in across Wales.
The Teesside Flexible Investment Fund
The Teesside Flexible Investment Fund is a £20 million fund to support economic development
in Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton-on-Tees through a mix of finance to support buying a business, property funding and bond finance. It is backed by investment from FW Capital and The Teesside Pension Fund and delivers loans of £100,000 to £3 million to enterprises making an economic impact in Teesside.
The North East Property Fund offers short-term loans for small and medium-sized construction and property development companies.
Loans from £250,000 up to £2 million are available for residential and non-speculative commercial developments in Tyne& Wear, Northumberland, and County Durham.
The £20 million fund is backed by the North East Combined Authority (North East CA). The Fund was launched to address a gap in the market and facilitate the delivery of new residential and non-speculative property development projects in the North East area.
The North East Commercial Property Investment Fund
The North East Commercial Property Fund offers loans for small and medium-sized construction and property development companies.
Loans from £1 million up to £7 million are available for speculative and non-speculative commercial developments in Tyne& Wear, Northumberland, and County Durham.
The £35 million fund is backed by the North East Combined Authority (North East CA). The Fund was launched to address a gap in the market and facilitate the delivery of new commercial property development projects in the North East area.
FW Capital is part of the DBW Group one of the UK’s largest SME investors. The DBW Group manages funds of in excess of £1.9 billion For further information on the Group visit https://developmentbank.wales
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