Fittingsco, founded by former Team GB swimmer Dan Briggs, secures Northern Powerhouse backing.
- The Chadderton-based company aims for expansion with NPIFII’s debt capital support.
- Fittingsco specialises in innovative kitchen fittings, offering products like LED under-counter lighting.
- The funding will enable increased stock levels and introduce new products to stay ahead in the market.
- Fittingsco’s expansion aligns with NPIFII’s mission to support North of England SMEs.
Fittingsco, established by ex-Team GB swimmer Dan Briggs in 2017, has gained a significant investment from the Northern Powerhouse Investment Fund II (NPIFII). Headquartered in Chadderton, the firm takes pride in offering a diverse range of kitchen fittings, from hinges and drawers to cutting-edge LED under-counter lighting. This strategic financing will enable Fittingsco to enhance its stock levels and expand its workforce, ensuring a robust response to rising market demands.
The investment, managed by FW Capital under the NPIFII’s debt capital framework, is particularly pivotal in facilitating Fittingsco’s growth trajectory. The fund provides loans ranging from £25,000 to £2 million, aimed at bolstering SMEs across the North of England. Through this capital injection, Fittingsco plans to keep pace with market innovations and trends, thereby amplifying its product range with high-quality and novel offerings.
As part of the British Business Bank-backed initiative, FW Capital, emphasises the aim to help businesses like Fittingsco scale effectively. Caroline Turley, an investment executive at FW Capital, remarked on Dan Briggs’ unique journey from athlete to entrepreneur, highlighting his determination and vision as critical to the company’s success. With backing from NPIFII, Fittingsco is well-positioned to implement its inventory planning strategy and expand its market footprint.
Sue Barnard from the British Business Bank acclaimed Fittingsco as a stellar example of regional enterprise leveraging NPIFII funding for growth. Her optimism underscores the broader economic impact such investments hold for Greater Manchester, with job creation and increased industry activity being expected outcomes. Dan Briggs’ dual expertise in sport and business underscores his capacity to identify and respond to burgeoning industry needs, thereby driving Fittingsco’s demand both domestically and internationally.
Fittingsco’s partnership with NPIFII embodies a strategic step towards substantial growth, benefiting from comprehensive support to fortify its market presence.
