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Six-figure NPIF II funding supports Knowsley firm’s digital transformation

Blog post 23 October 2024

North West-based electromechanical specialist Central Group has secured a £700K investment package which is supporting significant growth, job creation and advances in new technology to support its digital transformation strategy.

Three people stand inside a large industrial machine, smiling at the camera

Located in Knowsley, the firm is being supported with investment from NPIF II – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund II (NPIF II).

Central Group specialises in the supply, installation, repair, and maintenance of industrial electric motors, generators, inverter drives, and industrial pumps. It works with leading Original Equipment Manufacturers (OEM) such as ABB, Nidec, Innomotics and Siemens and is a specialist in the rotating machinery sector, with over 50 years’ experience.

Central Group is using the funding from NPIF II - FW Capital to create eight new jobs and support its work with Liverpool University and Liverpool John Moore University with whom it is collaborating on a Knowledge Transfer Project. Combining academic research and industrial expertise, they are paving the way for advances in technology with regards to system diagnostics and maintenance optimisation. This involves the development of an AI-driven prognostic health management system for industrial drives.

A second-generation family-run business, Central Group is managed by the Sutton brothers, Shaun and Tim, who took control of the business in 2001. The firm’s core team of electricians, engineers, and software developers form the foundation of its success. Shaun and Tim’s extensive knowledge and experience in motors, pumps, drives, and alternators allows the business to offer innovative solutions that sets it apart from competitors.

We are making substantial changes by applying cutting-edge AI algorithms and predictive analytics to real-world mechanical systems, improving their reliability and performance. This is a real game changer for our industry because this cutting edge sensor technology offers protection for critical assets so we can predict in advance when machinery may fail and schedule in maintenance. We’re proud to be a preferred supplier for major machine manufacturers and we’re working with some big blue chip companies and helping them to invest in this innovative monitoring technology. The NPIF II backing and support from Laura Rees at FW Capital has been very important, providing us with the necessary working capital to drive this change from being a reactive business to being able to plan ahead and monitor in work. Shaun Sutton Managing Director at Central Group
Shaun and Tim are extremely proud of their family business and are embarking on an exciting journey of growth. Their team boasts experienced technology specialists and researchers who are developing data driven solutions that use precise technology to analyse the longevity of their customers’ machinery, providing invaluable insight. This will also allow Central Group to plan and schedule work in which will lead to increased productivity and profitability. Laura Rees Senior Investment Executive at FW Capital

Since taking control of the business over 20 years ago, Shaun and Tim have grown Central Group into an electromechanical specialist. The finance from NPIF II will help to propel the business into its next stage of growth, creating eight new roles and boosting the economy in the local area.

It is great to see businesses like Central Group using NPIF II to grow and unlock potential in the region.

Sue Barnard Senior Manager at the British Business Bank

NPIF II - FW Capital Debt Finance can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.

The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.

The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England.

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Notes to editors

About FW Capital

FW Capital is a fund management company currently managing UK-based funds of £390.8m

For further information, visit https://fwcapital.co.uk/about-us/performance-and-impact

The Northern Powerhouse Investment Fund II (NPIF II)

NPIF II is a £660 million investment fund to support the growth of small and medium-sized businesses across the North of England launched in March 2024.

The Northern Powerhouse Investment Fund II is one of a series of new Nations and Regions Investment Funds launched by the British Business Bank delivering a £1.6 billion commitment of new funding to drive sustainable economic growth.

The Northern Powerhouse Investment Fund II offers a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. The fund covers the entire North of England including Greater Manchester, Liverpool City Region, Lancashire, Yorkshire & the Humber, Cheshire & Warrington, Cumbria, County Durham, Tyne & Wear, and Northumberland.

It aims to tackle an identified funding gap between the North and South of England and increase the supply and diversity of early-stage finance for smaller businesses.

FW Capital manages the £75 million NPIF II – FW Capital Debt Finance fund, part of the Northern Powerhouse Investment Fund II  on behalf of the British Business Bank. Finance of £100,000 to £2 million is available to businesses in the North of England with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.

FW Capital is part of the DBW Group one of the UK’s largest SME investors. The DBW Group manages funds of in excess of £1.9 billion For further information on the Group visit developmentbank.wales. 

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