Six-figure funding to drive further veranda firm growth

A decking and fencing specialist has set its sights on expansion after receiving a six-figure investment deal.

Lytham-based Lakeland Verandahs received the investment funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

The deal follows the firm experiencing 40 per cent year-on-year growth since its inception in 2008, and the funds are supporting new product development, including the launch of a new solid deck board range and associated products.

Russell Milburn, founder at Lakeland Verandahs, said: "Our focus is primarily aimed at the residential market and we’ve expanded our range to meet increased customer demand. We saw a significant increase in sales during Covid, which is now starting to level out again but we’re still experiencing solid growth as people are still investing in their homes and gardens. We’re looking to the future and excited to grow the business further with the launch of our new exclusive solid deck board product range in January.

“The backing from FW Capital has been key in helping us with this product development and supporting our marketing activities. It has also helped us to confidently expand our team to support our sales activities with the appointment of a new commercial director and sale support team."

Andy Traynor, senior investment executive at FW Capital, added: “This is a fantastic opportunity to support a long-standing business within the region. The working capital is helping Lakeland Verandahs to continue their impressive growth strategy and enhance its current offering.”