Tuesday, May 11, 2021

Allerton Steel secures post-COVID future with £500k NPIF investment

Allerton Steel has safeguarded jobs and a return to growth following COVID disruption after securing a £500,000 investment.

The investment was provided by NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund.

Based in Northallerton, Allerton Steel is specialist structural and mechanical fabrication company which employs almost a hundred people.

It will use the funding as part of development plans, including working capital, and has directly safeguarded 20 jobs.

The company has worked on many landmark London buildings including the Shard, Battersea Power Station, the Olympic Village and 22 Bishopsgate, providing large elements of the infrastructure works.

They have also been involved with a number of sports venues, including the new stand at Anfield, home to Liverpool Football Club, as well as the new stadia for Manchester City and Tottenham Hotspur, and the conversion of the Olympic stadium for West Ham United.

The investment was facilitated by FW Capital Investment Executive Andy Castle, following an introduction by David Streather of Garbutt & Elliott Accountants, advisor to Allerton Steel.

“This investment is direct assistance to safeguard our jobs and to return the business to growth following the significant disruption caused by the Covid-19 pandemic,” said Allerton Steel MD Giles Penn.

“FW Capital have been able to assist where traditional retail banking has not and their level of assistance and understanding could have not have been greater at a time when we needed it most. I am extremely grateful to the work put in by our advisers and all those at FW Capital – with their support we have a stronger future.”

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