Loading ...
manojrana...
Business & Economics
Documents
14
0
Try Now
Log In
Pricing
<p>THE OFFICIAL NEWSLETTER OF THE NORTH WEST FUND SUPPORTED BY ISSUE TWO / April - June 2013 www.thenorthwestfund.co.uk Power Vision sets its sights on growth with The North West Fund 06 Hughes Safety Showers finds success in exporting 08 2 / www.thenorthwestfund.co.uk Follow us 08 / 09 Hughes Safety Showers finds success in exporting Hughes Safety Showers, part of the Hughes Group plC, has increased sales 15 per cent in 2012 and created new jobs in the past 12 months following funding from The north West Fund for loans plus. 03 Foreword We have started 2013 with another strong performance, investing over £11 million in 35 new investments and 16 follow-on investments, between January and March. 04 / 05 Inspiring Entrepreneurs in the North West Our fund managers have maintained their momentum from last year and have made some fantastic investments this quarter. 06 Power Vision sets its sights on growth with The North West Fund Optical coating specialist power Vision is on track with its ambitious growth plans after a sevenfold increase in sales in 12 months following investment from The north West Fund for Venture Capital. 07 MHA Lighting on track to double turnover with investment leD lighting manufacturer MHA lighting aims to double turnover by the end of the year following a recent £750,000 investment from The north West Fund for energy & environmental. Contact Us Email: Telephone: Website: Address: enquiries@thenorthwestfund.co.uk 01925 418232 www.thenorthwestfund.co.uk north West Business Finance limited, The Maltings, 98 Wilderspool Causeway, Warrington, WA4 6pu 11 Investing in North West manufacturing nigel Dove, Head of Development at The Manufacturing institute, tells us more about the independent charity which aims to inspire, educate and improve manufacturing companies and their people. 10 Introducing more flexible finance Do you need finance? The North West Fund is a £155m investment fund, established to provide debt and equity funding from £50,000 to £2m to small and medium sized enterprises (SMEs) based in, or relocating to, the North West of England. The funding is provided jointly by the European Regional Development Fund and the European Investment Bank. We have restructured our Development Capital Fund allowing us to provide more flexible finance for established businesses in the north West. Design: gtcreate ltd www.gtcreate.co.uk Main photography: © Andy Harrison ISSUE TWO Welcome Cliff Maylor... I am pleased to say that 2013 has started very positively for our individual fund managers and continued the strong end to 2012. The first quarter of the year has seen The North West Fund invest over £11 million in 35 new investments and 16 follow-on investments, across the region, making this our strongest quarter to date. www.thenorthwestfund.co.uk / 3 The prosperity of the North West is to a large extent reflected in the success and prosperity of its small and medium sized business community, they provide much needed employment and generate the tax revenues and VAT that help pay for the regions’ essential services. It is now widely recognised that the major banks in the UK have neither the appetite nor the resource to provide capital to businesses that fall outside of stricter credit appraisal guidelines. This has created a very substantial funding gap and made it much more difficult for businesses to raise much needed growth capital. Against this background I am delighted that The North West Fund has been able to step in and invest over £54 million in 180 businesses and in doing so we have been able to create and safeguard a significant number of jobs in the region as well. This issue of INSPIRE has a focus on Manufacturing. It is a sector we know well having invested some 20% (over £10 million) in this sector in the last two years. The North West is still the manufacturing heartland of the UK and we believe that North West Business Finance, as the manager of The North West Fund is ideally placed to support the next generation of businesses with the capital that they need to grow and prosper. We look forward to bringing you some more success stories in future issues of INSPIRE and in the meantime I hope you find this quarters review informative. Enjoy the newsletter! Cliff Maylor CEO of North West Business Finance Ltd which manages The North West Fund 4 / www.thenorthwestfund.co.uk Inspiring Entrepreneurs in the North West www.thenorthwestfund.co.uk / 5 The North West Fund has got off to a flying start in 2013, so far investing over £11 million in 35 new investments and 16 follow-on investments, making this our strongest quarter to date. Overall, since launch in December 2010, The North West Fund has invested more than £54 million in 180 companies across Greater Manchester, Merseyside, Cheshire, Lancashire and Cumbria. The Fund is well on target to invest £35 million during 2013 as we continue to receive a steady flow of good quality applications from the regions’ businesses. Our fund managers have maintained their momentum from last year and have made some fantastic investments, including: • A £250,000 investment by The North West Fund for Digital & Creative into Gateway 3D, a software and solutions business based in Macclesfield which has produced software designed to allow users to view and personalise products in 3D; • Investment of £500,000 from The North West Fund for Venture Capital into Ph.Creative, a Merseyside-based creative agency. The investment will be used to help the company double in size and create 14 new jobs during 2013; • A £125,000 investment by The North West Fund for Biomedical into LumbaCurve, based at Liverpool Science Park, to fund its development of products which help relieve lower back pain; and • The North West Fund for Energy & Environmental invested £650,000 into a University of Bradford spin-out; Acoustic Sensing Technology, which has developed a product which quickly and efficiently tests the condition of sewers and is based at Sci-Tech, Daresbury. INTRODUCING MORE FLExIBLE FINANCE FROM THE NORTH WEST FUND The good news for businesses in the North West or those looking to relocate to the region is that we now have a greater range of funding options to help their businesses grow. In March we launched two new products aimed at established businesses looking to grow and expand. The Mezzanine Fund, managed by Enterprise Ventures offers loan and equity investments of between £750,000 and £2 million and we extended the mandate of The North West Fund for Business Loans so that they can now make loans up to £750,000. The changes have been made in recognition of the needs and demands of businesses for different financial products. The loan fund has been renamed The North West Fund for Loans Plus and along with The Mezzanine Fund is now open to new applications. FUNDING FOR MANUFACTURING The manufacturing sector, often in the past described as the backbone of British business has struggled in recent decades, often unable to compete with cheap imports. Manufacturing is a priority sector for the North West economy and is something we have been keen to help support and promote. Over 20% of the businesses we have invested in so far have a manufacturing element, helping to not only support growth within those businesses but also supporting job creation in the supply chains. The Fund has invested in some inspiring manufacturers since launch, including a recent investment in Manchester based MHA lighting which makes LED lighting systems; Power Vision, based in Crewe, which develops anti-reflective equipment for glasses; and emergency shower manufacturer Hughes Safety Showers, based in Stockport. You can read more about these businesses further on in this second edition of INSPIRE. These businesses are helping to revitalise the sector which is built on 300 years of industrialisation in the region. Today, the sector is still vital to the North West economy and employs more than 300,000 people. The North West Fund will continue to support businesses and promote growth for manufacturers to help ensure the region enjoys another 300 years of manufacturing excellence. £11m Over £11 million has been invested across the region in 35 new investments and 16 follow-on investments, between January and March 2013. Optical coating specialist Power Vision is on track with its ambitious growth plans after a sevenfold increase in sales in 12 months following investment from The North West Fund for Venture Capital, managed by Enterprise Ventures. Crewe-based Power Vision secured £500,000 from The North West Fund for Venture Capital in August 2011. It has seen sales increase significantly from £111,000 in the 16 months to December 2011 to £821,000 a year later. The company was founded in 2010 and develops specialist equipment which applies anti-reflective coatings to spectacle lenses. The technology is aimed at optical retailers, offering a one-hour turnaround time for glasses at the point of sale. Clients include Vision-Ease Lens, a major US manufacturer of ophthalmic lenses. Since the funding from The North West Fund for Venture Capital, Power Vision has taken on six additional staff in sales, research, production and engineering. The company has sold several systems in North America and is currently in discussions with potential clients from Asia, South America and Europe. Tony Williams, chief executive at Power Vision, said: “The support from The North West Fund for Venture Capital has enabled us to fuel business growth and scale up production to satisfy the growing demand from our customers. The funding has also allowed us to put the necessary marketing collateral in place to establish the Power Vision product worldwide.” Will Clark, investment director at The North West Fund for Venture Capital, managed by Enterprise Ventures, said: “The growth achieved by the team at Power Vision has been really impressive. Our investment has accelerated the firm’s sales and enhanced its manufacturing capability in the North West region.” “The firm has already made a great stride in securing a license deal with Vision Ease in the US and we aim to secure a number of other contracts in international markets further down the line.” Power Vision sets its sights on growth with The North West Fund 6 / www.thenorthwestfund.co.uk £821,000 Sales increased significantly from £111,000 in the 16 months to December 2011 to £821,000 a year later. MHA Lighting on track to double turnover with investment www.thenorthwestfund.co.uk / 7 Greater Manchester-based LED lighting manufacturer MHA Lighting aims to double turnover by the end of the year following a £750,000 investment from The North West Fund for Energy & Environmental, managed by CT Investment Partners, as part of a £1.5 million funding round along with venture capital firm Harwell Capital. The company, which is based in Atherton, is an award-winning manufacturer of LED lighting solutions that provide unrivalled energy- savings for both internal and external lighting applications to the commercial and industrial sectors. MHA recorded turnover of £1.5 million in 2012 and is on target to reach £3 million by the end of this year. Managing director Tom Harrison, who is an expert in high-reliability and high-end electronics, founded the company in 2009. The business, which currently employs 34 staff, has a strong manufacturing base in the UK and supplies to a number of blue-chip organisations in the public and private sectors. Examples of recent projects include: • The installation of 2140 LB Lite LED lights fitted in the multi-storey car parks at Manchester Airport, which have helped to reduce its carbon footprint by achieving 57% energy savings, which is playing a major part in Manchester Airport Group’s plan to be the first airport group to have carbon neutral ground operations by 2015; • The installation of new light fittings at one of Wigan’s busiest car parks, which now uses 45% less energy and saves Wigan Council more than 50% on energy bills; and • The design and installation of a bespoke precision lighting solution at the Skelmersdale site of fire protection manufacturer Scott Safety, reducing energy bills by 81% and eliminating maintenance costs for up to 25 years. MHA will use the investment to expand the business even further and is looking to export its products to overseas territories including Scandinavia, France, Germany, the Middle East and Australasia. The firm is also creating a number of sales, technical and production roles to support its expansion. Tom Harrison said: “This is a landmark investment which will enable us to take our business to the next level both in the UK and internationally. We will use the funds to invest in research and development and expand our manufacturing facilities even further. “All our lighting is designed, developed and manufactured in the North West. We are completely committed to growing our manufacturing presence in the UK and expanding our customer base of blue-chip organisations.” Adam Workman, partner at CT Investment Partners, which manages The North West Fund for Energy & Environmental, said: “We are really pleased with this investment in MHA Lighting. The company has a highly-motivated and skilled workforce that has manufactured a product that can shine light sideways into an encapsulation, providing safe and efficient light output. “MHA has spotted a significant gap in the market by developing innovative, unique and cost-effective lighting solutions. We expect the business to continue its rapid growth and deliver pioneering solutions to both public and private sector clients.” Hughes Safety Showers finds success in exporting Stockport-based Hughes Safety Showers, part of the Hughes Group PLC, has increased sales 15 per cent in 2012 and created new jobs in the past 12 months following funding from The North West Fund for Loans Plus, which is managed by FW Capital. The sales boost comes on the back of a new product launch and strong export sales. Hughes Safety Showers has launched a 2,000-litre tank safety shower which can be used in locations that do not have access to water supply. It can be used in emergency situations, for example following a chemical spillage. Because of its ability to be used in remote locations, sales of the shower have poured in from both developed and developing nations. Hughes Safety Showers, which has sales of more than £13 million, is Europe’s largest manufacturer of emergency safety showers, eyebaths and decontamination equipment. The company is a leader and innovator in the health and safety sector, playing a key role in raising standards with high-quality products built to exacting standards. The North West Fund for Loans Plus backed Hughes in 2011 with a loan of £250,000. The company now exports to more than 130 countries and has offices in the US, Canada, the UAE, France, Germany and plans to open premises in Singapore. Hughes employs more than 100 people worldwide. Managing director Tony Hughes said: “There is a lot of support out there for businesses looking to export – you just need the ambition to find it. The backing from The North West Fund for Loans Plus and the support we have received from UK Trade and Investment have played a major role in increasing our global presence. “Now we have forged our own path, we have begun working with UKTI to help other businesses in the North West who want to export.” Gary Guest, of FW Capital, fund manager of The North West Fund for Loans Plus, said: “Hughes Safety Showers is a manufacturing success story. The business understood from an early stage that exporting was key to growth. Thanks to this focus, Hughes has grown turnover year-on-year and created jobs. We are delighted to see the company performing so well.” 08 / www.thenorthwestfund.co.uk www.thenorthwestfund.co.uk / 09 North West businesses and those looking to relocate to the region now have even more funding support available following the re-organisation of our Development Capital Fund. 10 / www.thenorthwestfund.co.uk INTroducINg MorE FLEXIBLE FINANcE FroM ThE NorTh WEST FuNd The Fund has been transformed into The North West Fund for Mezzanine which offers businesses loan and equity investments of between £750,000 and £2 million. MEZZANINE LOANS PLUS The North West Fund for Business Loans has been changed to The North West Fund for Loans Plus. Eligible businesses will now be able to access loans of between £50,000 and £750,000 from the £45 million fund, which has been increased from £35 million. Both of the restructured Funds are especially suitable for growing, established or trading businesses seeking finance to support their expansion plans. You can apply for finance or find further information about all of our funds on our website www.thenorthwestfund.co.uk www.thenorthwestfund.co.uk / 11 Nigel Dove is Head of Development at The Manufacturing Institute, the independent charity which aims to inspire, educate and improve manufacturing companies and their people. Manufacturing has always, and continues to be, very important to the North West. It’s the most productive industrial grouping, contributing £20 billion of GVA, supporting 390,000 jobs and generating £25 billion in exports for the regional economy. From aerospace and automotive to chemicals and precision engineering, the North West is at the cutting edge of manufacturing and advanced manufacturing, and we’re home to some major manufacturing success stories including Jaguar Land Rover, Rolls-Royce, BAE Systems and Siemens. Whilst the economic downturn had a major effect on the manufacturing sector in the North West, the region as a whole has been more resilient than others, and that’s in no small part due to the sheer diversity of our manufacturing base and the fact that export demand has so far remained healthy. Manufacturers across the North West are seeking out new opportunities and there is evidence to suggest local manufacturers are bucking the trend, increasing headcount and generally seeing an improvement in UK sales and orders. Despite this, it’s clear that there are still major challenges for 2013 and beyond. We know from speaking to the thousands of manufacturing companies we work with that one of the biggest threats they face is around the continuing loss of skills and shortage of skilled workers that meet the requirements of a modern manufacturing business. The future of manufacturing therefore clearly relies upon investment in people, which is just one of the reasons why we are keen to work closely with organisations like The North West Fund. At the Manufacturing Institute, we understand the unique challenges of running a successful manufacturing operation. Whether it’s equipping manufacturing leaders with the skills required to create global advantage, creating team supervisors who can improve operational performance or teaching the fundamentals of lean manufacturing to transform results on the shop floor, our programmes have been developed to enable manufacturers to apply skills and knowledge directly to their business, as quickly as possible, to improve operational performance and bottom-line. The manufacturers we’re working with have seen significant success - leading railway wheel manufacturer Lucchini UK Ltd has achieved cost savings of 20% and increased output by up to 25% as a direct result of our Accelerated Route to Lean programme, while Lancashire-based Aurora Manufacturing improved shift output by 25% after applying learning from our Team Leader Development Programme. Of course, in times of uncertainty, the most successful companies are those with a clear game plan to grow their business. That’s why we’re focusing on helping small and medium sized manufacturing companies in the North West to find and deliver growth opportunities, as part of a brand new business support programme. Part-funded by the European Regional Development Fund (ERDF), our Growth Programme helps manufacturers to find and win new customers, develop new products and markets, maximise sales and profitability, and, importantly, stay ahead of the competition. Our Growth programme includes four days on-site support from one of our experienced and highly-skilled manufacturing practitioners, a series of high-quality, practical, local master classes and additional input from established manufacturing entrepreneurs who have a proven track record of building successful manufacturing businesses. You can find out more about the Growth Programme by visiting www.manufacturinginstitute.co.uk/growth The training and support we provide allows manufacturing companies to grow their businesses and, often, they will reach a stage where funding is required to maximise this growth. Working in conjunction with The North West Fund means we are also able to advise manufacturers when they are seeking funding, ensuring that they are investment ready and referring them on to the relevant fund managers when the time comes. In the face of ongoing uncertainty, our focus for 2013 must be to continue to support our manufacturers to pinpoint new market opportunities to become stronger and healthier. The sector must fulfil its potential if the North West is to remain a real power in UK, and global, manufacturing. With the right investment, skills and innovation, this is what we can deliver. Nigel Dove, Head of Development at The Manufacturing Institute Investing in North West manufacturing The North West Fund is a £155m investment fund, established to provide debt and equity funding from £50,000 to £2m to small and medium sized enterprises (SMEs) based in, or relocating to, the North West of England. We have already supported over 180 businesses with more than £54m of funding. Do you need finance? We are looking for more businesses to invest in, so whether you are just starting up or seeking funding to help take your business to the next level, investment of between £50,000 and £2m from The North West Fund could be what you need to help your business flourish. Discover how The North West Fund could help you, contact any of our specialist Fund Managers, find more information or apply on our website www.thenorthwestfund.co.uk SUPPORTED BY T: 01925 418 232 E: enquiries@thenorthwestfund.co.uk SUPPORTED BY </p>
