Wayne Hodgson, Grant Peggie, Joanne Whitfield & Keith Charlton
As the Northern Powerhouse Investment Fund (NPIF) celebrates backing £100m of investment across the Northern Powerhouse region, we look back at some of the businesses that are achieving their ambitious growth plans with our support.
Teesside-based engineering firm ENEX Group received £250,000 worth of debt funding from NPIF – FW Capital Debt Finance, an NPIF product fund managed by FW Capital Limited.
The investment marked NPIF’s first investment in Tees Valley and allowed the company, which manufactures and supplies Mechanical Safety Interlocks and Process Safety Systems to the oil and gas industry, to formally launch a new product range to the market and expand in the North East of England.
Wayne Hodgson, managing director at ENEX Group, said: “I’m delighted to have completed a deal with the Northern Powerhouse Investment Fund and FW Capital. After our initial internal investment of £1m during the R&D, design, testing and production set-up stages, we were introduced to the fund at a time when it was tricky to obtain traditional funding. We are now in a much stronger position with the £250,000 investment; providing growth capital requirements to meet the demand from our global customers."
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