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.