FINANCE
CAPITAL
Joanne Whitfield , NE fund director at FW Capital .
GAINS
FW Capital milestone marks £ 100m of Tees support
Boost – FW Capital investment executive Allison Routledge with Jamie Brown , CEO of Francis Brown , which is one of many Tees firms to have benefitted from funding .
T
ees Valley ’ s local economy has been boosted by £ 100m thanks to the impact of nearly 80 investments over 11 years by FW Capital . The investments , valued at over £ 22.5m , have helped SMEs in the area leverage private sector investment totalling over £ 77m , creating nearly 500 new jobs and safeguarding more than 1,000 .
The investment into Tees Valley has been delivered through two of the funds FW Capital has under management . Nearly £ 16m was invested through the Northern Powerhouse Investment Fund – Debt Finance ( NPIF ) and a further £ 6.6m was invested through the Tees Valley Catalyst Fund ( TVCF ), which is managed on behalf of Tees Valley Business , the local growth hub for the Tees Valley and part of the Tees Valley Combined Authority . This fund helps businesses bid for new contracts by providing short-term loans .
Joanne Whitfield , FW Capital ’ s fund director , said : “ We ’ ve always been proud to be part of and support the business community in Teesside and it is fantastic to see the upward trajectory of this part of the region , which is testament to the hard work of Tees Valley mayor Ben Houchen and his team .
“ The investment into Teesside ’ s infrastructure will greatly improve connectivity . This is brilliant for the business base and its ability to compete so it ’ s no surprise confidence here is high .
“ We want everyone to know we are here to provide support to SMEs as a long-term growth partner and while this £ 100m figure is an exceptional achievement , we ’ re now looking to do the same again .”
To date , the support that FW Capital has provided over the decade has enabled businesses to launch new products , expand office space , buy new or ground-breaking equipment , increase their workforce and bid for contracts .
Focused on its role as a longterm growth partner , many existing customers have received two or more funding rounds as FW Capital customers .
A good example is fabrication and engineering firm Francis Brown , based in Stockton . The business received a sixfigure loan from TVCF in early 2021 that allowed it to fulfil bond requirements for a large contract . Following this , the business received funds from NPIF to
Find out more about FW Capital at fwcapital . co . uk .
enable it to secure jobs and expand further .
Francis Brown CEO Jamie Brown said : “ The pandemic has seen us , like many businesses , trade throughout a difficult period of uncertainty . It has been hugely reassuring to know that FW Capital has been on hand throughout to provide funding and guidance .
“ Thanks to them we are well positioned to fulfil our contract requirements , expand our workforce and achieve our growth objectives .”
Tees mayor Houchen said : “ As we emerge from the coronavirus pandemic , access to funding and support is critical to enable our brilliant businesses to fully recover and grow .
“ Small and medium businesses are the lifeblood of our economy and I ’ m delighted our funding has played a part in helping to create and secure so many good-quality well-paid jobs for the people of Teesside , Darlington and Hartlepool .”
74 | Tees Business