14/03/2014

The Greater Manchester Loan Fund and The North West Fund combine to back Intelling with £500,000 investment

Maven Capital Partners (Maven), Fund Manager for the Greater Manchester Loan Fund (GMLF), and FW Capital, which manages The North West Fund for Loans Plus (NWFLP), are pleased to announce a joint £500,000 investment in outsource contact provider Intelling Limited (Intelling).

The GMLF was established by the Association of Greater Manchester Authorities to provide flexible funding solutions to promising businesses that are continuing to struggle to raise finance as a result of tighter lending criteria. Maven, which manages similar funds on behalf of the UK and Scottish Governments, was appointed as manager of the GMLF in June 2013. The Fund aims to provide loans ranging from £100,000 to £500,000 to eligible SMEs in the Greater Manchester area, with the potential to provide follow-on funding up to £750,000.

FW Capital currently manages three investment funds in the North East and North West of England, including the £45m NWFLP which makes loans of between £50,000 and £750,000 to North West businesses. The Fund is part of the wider North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.

Intelling offers a range of inbound and outbound telemarketing services, specialising in the business to consumer market. The Manchester based business was only established in 2012, but under the leadership of its Managing Director Phil Morgan, who has over 20 years’ experience across a number of sectors within the call centre industry, Intelling has grown to over 100 employees and has secured contracts with a range of blue-chip clients including Scottish Power, Telefonica and Talk Talk.

With the sector demanding strict and transparent quality and compliance measures, the business has invested significant time and effort in designing a robust quality measurement programme that provides clients with the required assurance that their brand will receive the utmost protection when outsourcing to Intelling.

The strong focus on the quality of its service has led to increased demand from Intelling’s current clients for further capacity to be made available in 2014. Funding of £250,000 from the GMLF and £250,000 from NWFLP will provide additional working capital for the business to recruit and train additional telemarketing staff and expand the business to over 200 operators.

Phil Morgan, Managing Director at Intelling said: “This is fantastic news for Intelling and will help play a significant role in creating further career opportunities for people in the Greater Manchester area. Intelling has come a long way in a short period of time which is a direct reflection of the quality of our people. We are grateful to both FW Capital and Maven for recognising the opportunities provided by Intelling and supporting us in our future growth plans.”

David Wright, Investment Manager at Maven added: “Intelling is a new generation of contact centre dedicated to delivering growth for its partners. The company has developed a strong brand, recognised for delivering a first class customer experience by embracing new technologies and investing in the training and development of staff. This loan will assist the company with its continued growth and we look forward to working closely with Phil and the team.”

Gavin Cowling, Senior Investment Executive at FW Capital said: “Intelling understands its market very well and has established a strong reputation which has enabled it to win some lucrative contracts with well-known clients. FW Capital is pleased to co-invest with Maven Capital Partners to back the next phase of Intelling’s expansion. The company has plans to more than double its workforce by recruiting over 100 new employees as part of this expansion.”

Philip Waxman of Ridgetown Corporate Finance advised Intelling on the deal while Heatons provided legal advice to management and Gateley advised Maven.

North West Fund Loans Plus