A North Yorkshire food company has secured a five-figure investment to expand its range and purchase additional stock and equipment.
Mackenzies Smokehouse is a £1,725,534 turnover business comprising a smokehouse manufacturing facility with a restaurant, farm shop and butcher’s counter.
The investment – from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund – will be used to develop its manufacturing capability, to purchase equipment and additional stock and to invest in product development to expand its range.
This has created 6 full-time and one part-time positions and safeguarded a further 16 jobs.
The relationship was established thanks to Garbutt + Elliott in York, which approached FW Capital for additional funding capital after working with Barclays to secure a debt funding round for Mackenzies.
Anne Blanden, Investment Executive at FW Capital completed the investment together with Investment Executive Sam Streckert.
“Mackenzies is a well-established business with a great reputation and strong customer base. Since acquiring the business last year, Paul has worked hard to expand the range of quality goods on offer, as well as collaborating with other local producers,” said Mr Streckert.
“Paul has significant sector experience and the business is well positioned to expand its offering. We are delighted to have provided NPIF funding to help with these future growth plans and to have worked with Garbutt + Elliott to make this happen.”
Paul Palmer, Mackenzies Managing Director, said: “The team at FW Capital were extremely supportive and were able to expertly help us through the funding process. We’re very grateful for their support.
“This funding has allowed us to safeguard and create jobs and to expand the business in line with our ambitious growth plans.”
Tony Farmer, Corporate Finance Partner at Garbutt + Elliott, said: “This was a great team effort which involved debt finance from Barclays and working capital finance from FW Capital, which is allowing Mackenzies to formulate and implement growth plans to take the business forward.”