Wednesday, August 10, 2022

Steelwork contractor set for growth after securing new funding

Richmond-based steelwork contractor Hambleton Steel is focused on growth after securing new funding from FW Capital and NPIF, enabling it to invest in its workforce and create 17 new jobs to support new contract wins and future expansion.

The investment was delivered from NPIF – FW Capital Debt Finance, which is part of the Northern Powerhouse Investment Fund (NPIF), and The Tees Valley Catalyst Fund which is managed by FW Capital on behalf of Tees Valley Business, the local growth hub for the Tees Valley and part of the Tees Valley Combined Authority.

Hambleton Steel was founded in 1995 and today is one of the most progressive steelwork fabricators in the UK. It works across a variety of sectors carrying out steelwork construction projects from simple portal frames through city centre beam and column work onto larger projects and complex refurbishment packages. Projects include warehouses, sports stadiums, hospitals, retail, residential, education, industrial and commercial offices.

The investment was facilitated at FW Capital by investment executives Jordan McGorrigan and Allison Routeledge.

Matt Gibson, who was recently promoted from finance director to Managing Director at Hambleton Steel, explained: “We are entering an exciting period of growth and with the support from NPIF and FW Capital we can invest in our future success. The more contracts we win, the more people we can employ and with this funding we are creating 17 new jobs as we look to maximise our factory capacity.

“We have been delighted with the support provided by FW Capital, Jordan and Allison impressed me with their structure and excellent communication. We have felt well supported throughout the funding process.”

Jordan McGorrigan, investment executive at FW Capital, said: “We are proud to support Hambleton Steel, a strong, well-managed business with significant projected growth. Matt and the team have exciting plans to build further on Hambleton Steel’s success and excellent reputation.

“This investment demonstrates our commitment to supporting the ongoing growth of local businesses. I am looking forward to working with Matt during this exciting growth phase.”

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