Lancashire precision engineering firm gets funding for growth

A Lancashire precision engineering firm has secured a second round of funding from the NPIF II - FW Capital Debt Finance.

Lattimer Group has been at the forefront of glass engineering for more than three decades.

The Southport-based business previously received its first six-figure investment in 2023 from the original Northern Powerhouse Investment Fund.

This latest investment is playing a key role in supporting Lattimer Group’s growth trajectory as it takes on significant new contracts that will collectively add up to £3m in turnover a year to the business.

This is strengthening Lattimer Group’s position as a leading specialist in the design and manufacture of branded component parts for the glass container manufacturing industry.

Carl Stead, finance director at Lattimer Group said: “This investment is playing a key role in supporting our future success as we take on a number of new contracts across North America, Central and South America and Europe.

"The backing of FW Capital has been an important driver of our growth. We’ve had a strong relationship with the team since our initial conversations, so they were the obvious choice to approach for this latest round of funding support.”

The Southport business is one of 530 companies from the North West to have received a share of FW Capital's milestone of delivering £175m in growth focussed investment since 2010.

This funding has played a key role in driving growth and job creation, attracting co-investment from the private sector of approaching £160m, resulting in a total impact to the region of £335m. 

7,260 jobs have been created and safeguarded as a result of the funding, underlining FW Capital’s long-term economic impact in the region.

The investments have backed a wide variety of sectors, ranging from manufacturing and construction to technology and professional services. The creation of new jobs has significantly boosted the economy and local communities. 

The funding has been provided by three delivered funds - The North West Fund for Loans, The North West Fund for Mezzanine Loans and the Northern Powerhouse Investment Fund with more recent investments coming from the Northern Powerhouse Investment Fund II (NPIF II).

Gary Guest, Fund Director at FW Capital, said: “Reaching £175m in funding is testament to the thriving and passionate business community in the North West. Our mission is to support business growth and drive job creation by providing the funding and confidence businesses need to expand. This milestone reflects our commitment to North West businesses. We’re proud to help build a strong foundation for growth and prosperity across the region. 

 “As one of the UK’s leading debt fund managers, FW Capital plays a vital role in connecting public and private sector investment to fuel economic development. Our funding backs innovation, sparks ambition, creates jobs, and supports local investment — benefiting communities across the Region."

Alistair Igo, portfolio executive at FW Capital said: “We continue to be impressed by the drive and commitment behind the growth at Lattimer Group.

"Supporting new contract wins is a fantastic example of how NPIF II is fuelling business growth and contributing to the strengthening of the local economy.”

Sue Barnard, senior manager at the British Business Bank, said: “It’s great to see the significant impact FW Capital has had across the North West, with over £175m delivered to businesses through the different funds it manages, which includes a number of investments from the first NPIF, and now NPIF II.

"It’s this funding that is vital to supporting entrepreneurs across the North West, allowing them to scale and grow. That’s why this milestone is so meaningful to the health of our regional economy."