Fittingsco, founded by ex-Team GB swimmer Dan Briggs, gains NPIF backing.
- The investment supports Fittingsco’s expansion and stock increase plans.
- Founded in 2017, the firm markets furniture fittings from handles to lights.
- Dan Briggs combines athletic tenacity with business acumen to grow Fittingsco.
- The support from NPIF aids SMEs in Northern England to achieve growth.
Fittingsco, the brainchild of former Team GB swimmer Dan Briggs, has successfully secured investment from the Northern Powerhouse Investment Fund II (NPIF II) to facilitate its expansion. Established in 2017, the company operates out of Chadderton and specialises in a range of furniture fittings, including hinges, drawer systems, and LED lighting. This funding will allow Fittingsco to increase its stock levels substantially, enabling it to meet market demand efficiently.
By capitalising on the investment provided by NPIF II, which is managed by FW Capital, Fittingsco plans to enhance its team and inventory, aiming to strengthen its market presence. Dan Briggs commented on the strategic importance of staying ahead with trends and innovation, highlighting the role of this investment in introducing new, high-quality products to Fittingsco’s offering.
The £660m NPIF II initiative, part of the British Business Bank, provides loans and equity investments to small and medium enterprises (SMEs) across Northern England. With funding options ranging from £25,000 to £2m for debt finance, and up to £5m for equity, the scheme aims to fuel regional economic growth. Caroline Turley from FW Capital noted that aiding businesses like Fittingsco in scaling up is key to the fund’s objectives.
Dan Briggs’ unique journey from an athlete to a business leader underlines a story of diversification and adaptation. His determination from sports has translated to business success, mentoring his team and driving Fittingsco forward. Sue Barnard of the British Business Bank praised this approach, which is set to generate employment in Greater Manchester, thereby supporting the local economy. The backing from NPIF II highlights the fund’s commitment to supporting innovative businesses in their growth trajectories.
Fittingsco’s receipt of NPIF II funding underscores its promising potential and commitment to innovation.
