• Fri. Apr 19th, 2024

North East Connected

Hopping Across The North East From Hub To Hub

North East firm expands with £500K investment

UNP FW Capital Inside Contracts FINAL resizedLeft to right: Michael McNeil, Group Finance Director Inside Contracts, John Spreadbury Chief Executive Inside Contracts, Steven Foley, CCBS, Alex Gent FW Capital and Gordon Hodgson Managing Director Flooring Division Inside Contracts

A North East based interior design, new build cleaning, contract and commercial flooring specialist is poised to expand its services into Yorkshire after receiving a £500K investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

Headquartered in a 45,000 sq ft premises in Prudhoe, Inside Contracts specialise in transforming commercial spaces and creating luxury residential projects for a range of UK housebuilders. The business was formed in 2017 and today operates with four divisions focused on contract flooring, commercial flooring, interior design, and commercial cleaning.

The loan from FW Capital is being used to help Inside Contracts Group’s expansion into Yorkshire to service housebuilders in the region and support the creation of 37 new jobs in the area. Alex Gent from FW Capital was introduced to the team at Inside Contracts Group by Steven Foley at CCBS.

John Spreadbury Chief Executive at Inside Contracts Group said: “We are thrilled with the growth enjoyed by the business thanks to increased sales across our contract and commercial divisions. This success has led us to expand our services into Yorkshire. The investment from NPIF – FW Capital has been instrumental in helping us to bring our growth strategy to life and we’re looking forward to expanding our team and working with housebuilders and commercial clients across Yorkshire.”

Gordon Hodgson Managing Director of the flooring division at Inside Contracts Group said: ”I am delighted that the investment allows us to strengthen our presence in the Yorkshire and Teesside region. This will allow for further substantial growth in this region and cement our partnerships with our builder clients. Our new facility will give us the opportunity to build and grow our team and we are very excited with this prospect.”

Alex Gent, Senior Investment Executive at FW Capital added: “Inside Contracts Group is a group of companies offering flooring, cleaning and interior design solutions to housebuilders with a focus on quality and right-first-time service. Their growth journey has now led them to move into the Yorkshire market which is a significant step forward for their future success. I am sure their services will be well received across the region. It’s great to be able to provide this funding to help John and his team realise their growth ambitions, and to support investment in the NPIF region. It was also a pleasure to work with Steven and the team at CCBS, who were instrumental in ensuring a smooth process and delivering a good outcome to the team at Inside Contracting.”

NPIF – FW Capital Debt Finance can provide loans in the NPIF region with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire, Merseyside and the Tees Valley.

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.