May 22, 2020 @ 11:00 by Alison Cowie
Industrial services and waste management solutions firm Harpers Environmental Limited has secured a six-figure investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
The Billingham-based firm has received growth capital funding that will be used to expand and accelerate its operations in the region and create more jobs.
Harpers was originally established in the 1940s. With offices in Teesside and York, the company is a widely-recognised brand operating in a growing market. It employs circa 90 people and last year had a turnover of more than £11 million.
The award-winning business specialises in industrial services such as industrial cleaning, waste removal, and waste disposal.
Amid the COVID-19 crisis, the firm has been working with other regional businesses to deliver the waste and environmental services needed to keep firms running, including those in the food industry and water authorities, with vital septic tank cleaning and disposal services for private households and small business customers.
The deal was facilitated by FW Capital investment executives Steve Teasdale and Anne Blanden.
Steve said: “We are delighted to enable such a successful business to take advantage of the growth opportunities that will create new jobs and safeguard many more in Tees Valley.
“Harpers do an incredible job and this has been reflected recently through their vital contribution to supporting other businesses on Teesside to continue to operate during the COVID-19 crisis. This type of joint effort shows how the business network is pulling together and helping each other and the communities they work in.”
Gordon Mackay, Harpers Environmental managing director, said: “We are delighted to have received this investment from FW Capital, which will enable us to secure and further grow long-term contractual arrangements with the proponents in the Petrochemical, Utilities and Waste Management sectors, employ more people over time and continue to grow our business. We are very grateful to FW Capital for their help and support.”
The Northern Powerhouse Investment Fund provides a mix of debt and equity funding (£25,000 to £2 million). It works alongside ten Local Enterprise Partnerships (LEPs), the combined authorities and Growth Hubs, as well as local accountants, fund managers and banks, to support Northern-based SMEs at all stages of their development.