Foundry fires up growth plans with funding boost

A foundry is forging ahead with expansion and sustainability improvements following a six-figure funding package.

Fowler & Holden, part of TGM Industrial Group, has secured funding from NPIF II – FW Capital Debt Finance to support workflow improvements, increase production capacity and enhance environmental performance at its Grimsby site.

The investment marks the third round of backing the firm has received through NPIF and FW Capital.

Fowler & Holden operates from a base developed with support from the original Northern Powerhouse Investment Fund in 2021.

That earlier investment helped increase manufacturing capacity by up to 80 per cent, allowing the company to expand its foundry and engineering services for clients across the world.

The company now operates foundry and machine shops spanning more than 20,000sq ft, equipped with modern CNC machinery and traditional engineering tools.

Bosses say the funding is being used to improve working conditions by reducing airborne fumes and process-generated dust, while also helping the business strengthen its sustainability credentials and stay ahead of compliance regulations.

Tim Brooksbank, director at Fowler & Holden, said: “Since TGM Industrial Group acquired Fowler & Holden in 2021, we have reinvested over £1.1 million into our site, plant, and process infrastructure, with approximately £650,000 supported by FW Capital over this period. 

“These investments are a testament to our commitment to the long-term success of our facilities and our workforce. 

“By prioritising environmental credentials and health and safety, we are not only reducing our footprint but also creating a superior working environment for our team. 

“We have found FW Capital to be a pragmatic and supportive partner throughout this journey.”

Dave Hawkins, portfolio executive at FW Capital, added: “We continue to be impressed by the management team’s vision and are proud to support their ambitions for growth. 

“This latest funding cycle is instrumental in driving operational efficiency and reducing emissions, both of which are core to Fowler and Holden’s sustainability goals. 

“Having worked with the team since 2021, this is a great example of how we provide ongoing support to help businesses scale responsibly and successfully.”

The £660 million NPIF II fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.