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11/01/2016

Funding boost helps Merseyside survey specialists get the measure of lucrative new markets

A Merseyside business specialising in hi-tech precision measurement services has secured a £130,000 loan from The North West Fund for Loans Plus managed by FW Capital.

Established in 1989, Formby Surveys is using the finance to invest in new specialist laser equipment and ramp up its marketing activities including a redeveloped website.

The company works across many sectors providing a range of professional measurement services to architects, civil and structural engineers, property developers and construction professionals using a number of techniques including 3D modeling, laser scanning and 360 degree photography.
 
Located in Liverpool city centre, the company’s portfolio includes large clients such as Liverpool City Council, National Museums Liverpool, Aecom and the Watts Group.

Managing Director, Andy Roberts believes that advances in measurement technology are providing more opportunities for the business to expand. He said:

“New technology is creating additional opportunities for us and with this loan we’re expanding our services through the latest modern equipment. Providing ‘rights to light’ surveys for property developers is an excellent example of how targeting niche markets can complement our core business.

“Carol at FW Capital has been very supportive and understands our plans.  With the backing of the loan from Tthe North West Fund for Loans Plus we’re confident we can continue building our client base, both regionally and nationally as well as in London, which is a lucrative market for us.”
 
Formby Surveys expects to recruit an additional 4 members of staff in the coming year as a result of its expansion plans.

Commenting on FW Capital’s the loan, Investment Executive Carol Bolland said: “Formby Surveys is an established North West business providing bespoke advanced measuring services to customers in a range of sectors. Andrew and his team are experts in their field and their innovative approach has seen them achieve success in a number of niche markets.

“The loan from The North West Fund for Loans Plus has provided the business with the funding boost it now needs to capitalise on this successful formula by developing new services and increasing its market presence.”

The £45 million North West Fund for Loans Plus can lend between £50,000 and £750,000 to North West businesses. It is part of the £155 million North West Fund, which is provided by the European Regional Development Fund and the European Investment Bank.

 

North West Fund Loans Plus