CMS Tools is geared for growth after receiving a six figure investment to strengthen the firm’s position in the Yorkshire market and beyond.
The funding received is from NPIF-FW Capital Debt Finance which is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It is supporting plans to invest in infrastructure, create new jobs and the bulk buy of products to improve CMS Tools’ margins and increase profitability.
Headquartered in Normanton, West Yorkshire, CMS Tools was established in 1981 and has a turnover of £3m. The firm is a distributor of high quality, specialist roofing tools and accessories to customers across the UK working in the building trade and construction sector. It has a nationwide network of stockists, with a range that includes sustainable wood-based products delivered from re-planted and sustainable sources.
Simon French, Managing Director at CMS Tools, said: “The investment from FW Capital is enabling us to access working capital and bring new product categories into our portfolio. We’re also investing in infrastructure and increasing our workforce so we can continue to provide high levels of service our customers have come to expect. The process has been well managed by FW Capital, with funds available within the expected time.”
The investment was provided by Nick Donaghy, assistant investment executive and Alex Gent, senior investment executive at FW Capital. Ben Merrick, commercial relationship manager at YB Financial Advisory Ltd introduced Simon French from CMS Tools to the FW Capital team.
Nick Donaghy, FW Capital, assistant investment executive, said: “CMS Tools is a longstanding and profitable business led by an experienced management team. It has a wide spectrum of established customers and a healthy pipeline going forward which includes a number of new potential clients.
“The business has a multi-faceted growth strategy and we’re pleased to support this next stage of their development. FW Capital is committed to investing in local businesses via debt finance, supporting future growth across the region.”
Ben Merrick, commercial relationship manager at YB Financial Advisory Ltd, added: “For the past several years, we have collaborated closely with CMS Tools, and we are delighted to remain their primary point of contact for securing the necessary additional funding to fuel the ongoing expansion of their business.
“In the current climate of uncertainty, where businesses may encounter difficulties in obtaining prompt responses from their banks, I have full faith in my partnership with Nick and Alex from FW Capital. Our joint efforts will ensure that we can offer steadfast support to local businesses in meeting their diverse funding needs.”
