York nutrition supplements distributor fuels growth with £200k NPIF investment

Power Body Nutrition Limited, a wholesale distributor of nutrition and sports supplements, has secured a £200k funding package from the Northern Powerhouse Investment Fund (NPIF).

The investment was made by NPIF – Enterprise Ventures Debt Finance, an NPIF product fund managed by Enterprise Ventures.

Established in 2008, Power Body Nutrition supplies nutrition and sports supplements to shops and gyms across Europe as well as the UK.

With revenues increasing to over £12m in 2016, the York-based business moved to a larger premise last year to handle new levels of stock.

Power Body Nutrition will use the investment to purchase a new IT system and assist with stock purchase, as demand for its products from overseas customers continues to increase.

The business, which currently employs over 40 staff, will also look to create six new jobs.

Power Body Nutrition was introduced to Enterprise Ventures by Martin Bell of Red Sky, who also assisted the business with its application.

Agata Milewska, business development manager at Power Body Nutrition, said: “This new funding has presented us with an opportunity to transform our business and put it in a strong position for future growth.

“By expanding our product range, we can entice new customers with our services and grow our client base. We’re thankful to NPIF - Enterprise Ventures Debt Finance for this vital funding and we’re excited to see the progression of the business over the course of the facility.”

Ian Atkinson, Investment Manager at Enterprise Ventures, part of Mercia Technologies PLC, which manages the fund, said: “We are delighted to support Power Body Nutrition with this investment as it plans to secure new talent in the team and expand its customer base across the UK and Europe.

“It’s great to see strong business growth from companies within the York region, which is one of Enterprise Ventures’ key areas of focus.”

Sean Hutchinson, senior manager at British Business Bank, commented: “We are proud to be completing our first investments in the York area.

“We’re seeing all of the Northern Powerhouse Investment Fund geography benefitting from this new source of funding, and we are making a difference to those small businesses in the North that so desperately need working capital to expand.”

David Dickson, chair of the Infrastructure Board for the York, North Yorkshire and East Riding Enterprise Partnership, added: “This is exactly the kind of business investment that our LEP is keen to support. The York, North Yorkshire and East Riding LEP region is home to some great businesses.

“We are there to support SME’s to grow through our business support programmes, and we believe the Growth Hub operating through the How’s Business structure will make it easier for ambitious, growing businesses to access appropriate support.”

Operating from the British Business Bank’s Sheffield head office, the Northern Powerhouse Investment Fund provides a mix of debt and equity funding (£25,000 to £2m).

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