Member Article

FPE Global wins first NorthEdge investment

Stockport-based engineering company FPE Global has received significant investment from private equity firm, NorthEdge.

The investor, who has bases in Leeds and Manchester, announced its first ever deal for a majority stake in the fast growing engineering firm on Tuesday.

NorthEdge currently has £182m under management and its maiden fund achieved its first close in Summer last year.

Cash-winner FPE Global creates processing systems for materials such as sugar, cement, chemicals and waste for energy, and has a raft of blue-chip clients in the UK and overseas.

The Northern private equity investor said its cash injection would accelerate FPE’s global expansion with a focus on sales and marketing, along with investment in infrastructure.

NorthEdge will also offer support from its board members, Ray Stenton and Phil Frame, who have been appointed as non-executive directors, and financial director Andrew Jackson, as well as non-executive chairman, Stuart Lees.

Mr Stenton, who headed up the investment, commented: “The company has built an impressive client base with high levels of repeat orders driving growth.

“We believe there is a huge amount of potential in the business as it capitalises on its international growth opportunities.”

NorthEdge managing partner, Grant Berry, said: “We are delighted to complete the first NorthEdge deal.

“We believe now is a fantastic time to invest in the region. FPE Global is a fast-growing, locally-based business that is international in outlook, and we look forward to working closely with the management team.

“As an investor we believe that we have something different to offer. We are a highly experienced team that is passionate about the North of England and the businesses here.

“Our investment decisions are made locally and our focus is on growing Northern businesses.”

Adding to their comments, Chris Bailey, managing director at FPE Global, said: “The NorthEdge team bring with them a straight-talking approach and a great deal of expertise in growing businesses.

“They share our values and this investment demonstrates the potential in FPE Global. The deal positions us perfectly to capitalise on the huge opportunities available in the market. This is a really exciting time for everyone involved with the company.”

This was posted in Bdaily's Members' News section by Miranda Dobson .