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02/02/2012

120,000 loan from the North West Fund for Business Loans puts Merseyside company firmly in control of its expansion

A bespoke valve repair and service company is the second Merseyside business to benefit from a loan from the North West Fund for Business Loans managed by FW Capital.

Faced with the need to ramp up its operations to satisfy steadily increasing demand, Control Valve Solutions (CVS) contacted Simon Berry of FW Capital to discuss how a loan could support its expansion.

The £120,000 loan will now enable Maghull-based CVS to purchase new testing equipment. It will also provide the company with the additional working capital it needs to fund its rapid growth.

The loan is from the £35 million North West Fund for Business Loans which is financed by the European Regional Development Fund and the European Investment Bank (EIB) and managed by FW Capital.

The company has built up a strong reputation and is now a key player in valve service, repair and management for platform operators in the oil and gas sector. CVS’s unique processes optimize valve performance and minimize valve failures which can lead to costly unplanned shutdowns.

“We offer bespoke valves within the same delivery time as off-the shelf valves and each valve is tested to its process limits using ground-breaking state-of-the-art technology. With a proactive approach to valve maintenance and upgrade we continue to expand. This funding will support further service improvements with investment in new equipment and software to ensure that valve repairs and overhauls are carried out to the highest standards,” explained Mick Beavers, CVS’s Managing Director.

“This is our second loan to a Merseyside-based company and it’s very welcome news. Mick and the team have worked hard to build CVS into the highly-regarded company it is today. They’re in the enviable position of having a growing order book and I’m pleased we’ve been able to structure a loan to support their expansion plans,” explained Senior Investment Executive, Simon Berry.

The £35 million North West Fund for Business Loans can make loans of between £50,000 and £250,000 to viable small and medium-sized businesses (SMEs) based in the North West of England.

“I’m keen to chat to even more Merseyside-based SMEs, banks and advisers to explain what The North West Fund for Business Loans can offer. The fund has different lending criteria to the banks and this is proving attractive to many of the SMEs we have provided funding to” Berry concluded.

Simon Berry can be contacted on 07879 691 478 or 0151 600 5340 and is based at FW Capital’s Liverpool office at The Plaza, 100 Old Hall Street, Liverpool L3 9QJ.

Andy Leach, chief executive of North West Business Finance, the not-for-profit company set up to deliver The North West Fund, said: “I am delighted that The North West Fund has been able to support the growth plans of a long-established Merseyside business such as CVS. The investment by The North West Fund, which will help build on CVS’s reputation for service and quality in a highly demanding sector, demonstrates that even in challenging economic conditions, ambitious businesses can raise funding for their growth plans. We would be delighted to fund the growth plans of many more of Merseyside’s ambitious businesses and entrepreneurs.”

*The North West Fund for Business Loans has now been replaced by The North West Fund for Loans Plus.

North West Fund Loans Plus