FW Capital connects technology business to £150,000 NPIF investment
A superfast broadband provider has received £150,000
worth of funding from NPIF - FW Capital Debt Finance, managed by FW
Capital and part of the Northern Powerhouse Investment Fund
A superfast broadband provider has received £150,000 worth of
funding from NPIF - FW Capital Debt Finance, managed by FW Capital
and part of the Northern Powerhouse Investment Fund (NPIF).
Connectus Group provides fibre optic broadband
cabling and end user products including broadband, VOIP, mobile,
telephony, data storage and CCTV. The company works with a host of
blue-chip clients such as BT and Peel Holdings, as well as numerous
The £150,000 investment from NPIF - FW Capital
Debt Finance will fund a premises refurbishment, additional staff,
and marketing and website development to support the further
expansion of the business.
Connectus Group achieved a turnover of £500k
last year, and this is expected to rise to £1m in 2019. The company
currently employs nine staff, with two more full-time roles being
created by the end of this year.
Paul Ruocco, Connectus chairman
said: “Following our acquisition of Eximus Solutions Ltd
at the beginning of the year we applied for funding from NPIF - FW
Capital Debt Finance to be used to support the continued growth of
the company and the further deployment of our full fibre network
“We were delighted with the £150,000
investment from FW Capital it has been used to create five new
full-time roles and the continued growth of the company.
“The funding will also allow us to address the
unprecedented demand for Gigabyte Fibre connectivity, VOIP
telephony solutions and cyber security services to business across
the north of England.
“The entire process of working with FW Capital
has been smooth and transparent with great support and we would
highly recommend working with them.
FW Capital investment executive, Loz
O’Connor said: “BDUK has launched a £67m Gigabit Broadband
Voucher Scheme which businesses can access if they invest in fibre
optic broadband. This will encourage businesses to put
broadband improvements high on their agenda and will provide lots
of opportunities for Connectus. Our funding will enable the company
to deliver on increased demand for its services and we are very
pleased to support Connectus through this significant period of
Grant Peggie, Director at British
Business Bank, said: “This investment will allow Connectus
a greater presence online and to recruit additional staff.
Connectus has established an impressive client base within the
telecoms and technology sectors, and we hope that the funding from
NPIF will enable the firm to expand even further.
The Northern Powerhouse Investment Fund project is
supported financially by the European Union using funding from the
European Regional Development Fund (ERDF) as part of the European
Structural and Investment Funds Growth Programme 2014-2020 and the
European Investment Bank.