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Business & Economy

Stockton’s Southern Asset Management grows with NPIF backing

A testing firm ensuring lighting columns’ safe running has hailed its bright future after receiving six-figure support.

Southern Asset Management is expanding following backing from NPIF – FW Capital Debt Finance.

The Stockton-based company is creating eight apprenticeships, investing in machinery and software and an “online data asset management portal”.

It says the outlay will bolster its market presence, building on recent contract successes with authorities including Leicestershire County Council and the North and Mid Wales Trunk Road Agent.

Steve Southern, managing director, said: “Without the loan from NPIF – FW Capital, we wouldn’t be where we are today.

“Rachel Smith (FW Capital investment executive) and the team have been brilliant. 

“The funding has provided the platform we needed to facilitate growth and secure significant contract wins.”

Rachel added: “Southern Asset Management has experienced impressive fast growth from a standing start and is a dynamic and engaging business.

“The level of expertise in their sector is extensive, which is reflected in their series of new contract wins to bolster the expansion of the business even further.”

NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund.