Inshore Fisheries secures investment from NPIF
A fish and seafood wholesale business is riding a fresh wave of
demand after securing investment for growth.
Inshore Fisheries, in Redcar, is moving into a new phase of
development following support from the team at Clive Owen Corporate
Finance to secure an investment from The Northern Powerhouse
Investment Fund (NPIF).
NPIF - FW Capital Debt Finance, managed by FW Capital, has
backed the company with a £250,000 cash injection.
The investment will support plans to grow the existing workforce
of 28 with another three full time members of staff and to
implement new systems and processes for client order handling and
Established in 1980, Inshore Fisheries is a well-known
independent seafood wholesaler supplying high quality, locally and
sustainably caught fish and seafood to a range of high profile
clients such as hotels and restaurants across the North East,
Yorkshire and the North West.
Directors Hazel Cook, Paul Lowery and Michael Rogerson took over
the company in 2012 in a management buyout and have subsequently
developed the business by supplying the freshest fish available in
the market via a fast and efficient delivery service.
The company has expert fishmongers on site to prepare orders to
their clients' exact specifications.
Angus Allan, corporate finance partner at Clive Owen LLP, said: "We
have worked with Inshore Fisheries for many years, helping them
with the management buyout in 2012 and supporting the team to grow
the business to the point where additional funds were clearly
needed to take the business forwards.
"We take a very hands-on, proactive approach with our clients.
Working with FW Capital allows the flexibility for ambitious,
growth-driven businesses like Inshore to access investment funding
to support the increasing working capital requirement needed to
service their growing customer base."
Strong sales growth since 2012 has resulted in the company needing
increased capacity in specific areas.
Paul Lowery, sales director of Inshore Fisheries, explained:
"The business is enjoying a period of sustained growth as more and
more new customers are attracted by our high quality products and
efficient, friendly service. Further growth is expected, with
enquiries at an all-time high and we need to capitalise on this
"Clive Owen made the process very simple and supported us with
the application allowing us to get on with running the business.
The funding from NPIF - FW Capital Debt Finance will mean we can
bring our plans to fruition, putting in the new systems and
employing more staff, which all helps to drive the local
Keith Charlton, from FW Capital, added: "The Inshore Fisheries
management team has a clear vision for the business's development
that is based on detailed knowledge of their industry and a strong
"New jobs are being created as part of the firm's expansion and
we're excited to see how our investment will help it make even more