Roofing Tools Maker Gets Six Figure Funding Boost

A SPECIALIST roofing tools manufacturer is gearing for growth after receiving a six figure funding boost to reinforce its margins and market position.

The funding is for CMS Tools and comes from FW Capital, provided as part of the Northern Powerhouse Investment Fund. It is supporting plans to invest in infrastructure, create new jobs and the bulk buy of products to improve CMS Tools’ margins and increase profitability.

Headquartered in Normanton, West Yorkshire, CMS Tools was established in 1981 and has a current turnover of £3 million.

Roofing Tools

CMS Tools is a distributor of high quality, specialist roofing tools and accessories to customers across the UK working in the roofing trade and construction sector. It has a nationwide network of stockists, with a range that includes sustainable wood-based products delivered from re-planted and sustainable sources.

Simon French, Managing Director at CMS Tools, said: “The investment from FW Capital is enabling us to access working capital and bring new product categories into our portfolio.

“We’re also investing in infrastructure and increasing our workforce so we can continue to provide high levels of service our customers have come to expect. The process has been well managed by FW Capital, with funds available within the expected time.”

The investment was provided by Nick Donaghy, Assistant Investment Executive and Alex Gent, Senior Investment Executive at FW Capital. Ben Merrick, Commercial Relationship Manager at YB Financial Advisory Ltd introduced Simon French from CMS Tools to the FW Capital team.

Nick Donaghy, FW Capital, Assistant Investment Executive, said: “CMS Tools is a longstanding and profitable business led by an experienced management team. It has a wide spectrum of established customers and a healthy pipeline going forward which includes a number of new potential clients.

“The business has a multi-faceted growth strategy and we’re pleased to support this next stage of their development. FW Capital is committed to investing in local businesses via debt finance, supporting future growth across the region.”

Ben Merrick, Commercial Relationship Manager at YB Financial Advisory Ltd, added: “For the past several years, we have collaborated closely with CMS Tools, and we are delighted to remain their primary point of contact for securing the necessary additional funding to fuel the ongoing expansion of their business.”

NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and the Tees Valley.

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.

>> Read more of the latest roofing news

The post Roofing Tools Maker Gets Six Figure Funding Boost appeared first on Roofing Today.

Generated by Feedzy