Firm secures major funding boost to support expansion plans

The funding will support the company’s financial planning and help it achieve its growth targets while securing new contracts

A utilities firm has secured a major funding boost to support its expansion plans.

BGS Utilities, based at Birchwood Park in Warrington, has secured a six-figure investment from FW Capital through the Northern Powerhouse Investment Fund II (NPIF II).

The funding will support the company’s financial planning and help it achieve its growth targets while securing new contracts.

Jonathan Hopkins, managing director at BGS Utilities, said: The utility infrastructure market is incredibly competitive but we’re focussed on finding innovative ways of working which deliver better engineered solutions for our clients.

The backing from FW Capital has been key to our growth plans and we’re proud to be able to secure funding through NPIF II knowing our sector isn’t typically favoured for this support, he said.

BGS Utilities designs and delivers utility infrastructure solutions for the industrial, commercial, and housebuilding sectors across the North West and surrounding regions.

The company currently employs around 40 people and has recently secured a series of new contracts.

These include work on Manchester city centre regeneration projects for Renaker, residential developments for Wain Homes, Ecclestone Homes, Belway, and Vistry, as well as the Animate Studios project in Preston.

Caroline Turley, investment executive at FW Capital, said: BGS Utilities is innovative in the work it delivers for its clients and has created a well-established, expanding business.

Its vision for future growth and commitment to offering groundbreaking utility infrastructure services has impressed us, she said.

Through NPIF II we are able to address the funding gap that businesses like BGS Utilities can encounter, breaking down barriers to accessing much-needed finance for growth, she added.

The Northern Powerhouse Investment Fund II is a £660 million investment fund covering the entire North of England.

It aims to increase the supply and diversity of early-stage finance for smaller businesses.

The fund provides loans from £25,000 to £2 million and equity investment up to £5 million.

FW Capital specifically delivers debt finance options from £100,000 to £2 million for businesses in the North West, with some capacity to lend more broadly across the North.

Sue Barnard, senior investment manager at British Business Bank, said: As cities across the North West continue to expand and grow, it’s important they have the infrastructure and providers to fulfil this potential.

She added: That’s why supporting businesses like BGS Utilities is essential in unlocking infrastructure projects across our region.