£250K NPIF - FW Capital Debt Finance investment builds bright future for Oldham Scaffolding business
An Oldham-based scaffolding business has received a £250k loan
from NPIF - FW Capital Debt Finance, managed by FW Capital and part
of the Northern Powerhouse Investment Fund (NPIF).
Rose Scaffolding Limited was set up by
brothers James and Charles Brierley and Chris Howson in April last
year with trade commencing last
The company provides scaffolding for major
construction projects in the North West. Clients include Redrow,
Bellway Homes and McCarthy and Stone.
NPIF - FW Capital Debt Finance provided a
£250k loan which has been used to invest in high quality kit and
will create a number of new jobs including apprenticeships.
Director James Brierley said:
“The business got off to a great start with an order book of £3m
and a diverse client base across a range of sectors.
“Despite our success, there was no real
appetite from high street banks to provide investment. James Scott
Accountants made the initial introduction to Paul Mak of
Pomegranate Commercial Finance, who in turn referred the deal to
Adam Husband of FW Capital.
“The funding has been used to buy high quality
materials from our German suppliers and bring in new staff
including apprentices. The construction industry has an
ageing workforce and we want to address this by investing in
training through quality apprenticeships to create opportunities
for young people.
“We have 25 full time and aim to have 40 by
the end of next year including around six more apprentices.
“In our plan we’d forecasted to double our
turnover but we are on target to treble it.”
FW Capital investment executive Adam
Husband said: “£250k is a bold amount to lend to such a
young business but they are a perfect example of how we will push
our appetite for the right business.
“Key factors in our decision were the strength
of the management team who had invested a lot of their own cash
initially to get the business off the ground which demonstrated
their commitment and belief in what they were doing. Their
strong track record in the sector was also crucial, having worked
for a major scaffolding business prior to starting Rose
“They have secured a huge amount of business
in a short space of time and are working with key players in the
construction industry. Rose Scaffolding is a really fantastic
business and one that we are delighted to have supported.”
Sue Barnard, Senior Manager at British
Business Bank, said: “The North West
continues to be a fast-growing market for construction. Rose
Scaffolding is a relatively young company but it has managed to
expand its client base and have influence over a number of major
projects in the region.
“The investment will positively impact the
firm’s future growth ambitions, in the form of new specialised
equipment, the creation of skilled jobs and vocational training for
school leavers. It is these individual components that will boost
the North West’s economic prosperity in the future and we look
forward to seeing the companys development.”
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.