DA Techs secures further funding for growth
Chorley-based automotive repair specialists DA Techs has received further funding in the form of a £250,000 loan.
The finance is backed by CBILS and has been provided by NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
DA Techs is a rapidly growing business which has expanded its suite of services and geographic reach to double turnover each year, reaching almost £1m last year. It has already secured back from Rosebud and Made Smarter.
Phil Barnard, director at DA Techs, said: "The vast majority of our work comes from the motor trade, insurance companies and body shops where there isn’t the expertise or equipment to repair and refurbish alloys professionally.
"We recently merged with two other brands and now offer further services for bodywork and tyres. We have got a lot of growth potential and have started to work with auction houses, car supermarkets and de-fleet centres.
"However, like a lot of companies we have suffered quite a lot of disruption over the last 12 months because of Covid-19 and we needed funding to keep our expansion plans on track. FW Capital and NPIF were great to work with and very committed to getting us an outcome. The support has been crucial to our recovery and we are now in a strong position despite the current lockdown."
Maria Ramsdale, investment executive at FW Capital, said: "DA Techs is a great business with excellent growth plans which were just delayed because of the pandemic. This was a great opportunity for us to help a business during difficult trading conditions and we are really pleased that our support has enabled the company to continue with its expansion plans despite the ongoing situation."
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