Northern Powerhouse investment to create 15 jobs at Manchester’s Steamhaus

Cloud consultancy Steamhaus Ltd has secured a six-figure boost from the Northern Powerhouse Investment Fund (NPIF) to expand and create 15 jobs.

NPIF – FW Capital Debt Finance, run by fund management firm FW Capital, backed the Manchester-based business with a £175k cash injection.

Founded two years ago by managing director Daniel Keighron-Foster, Steamhaus has forecast its turnover to pass the £1m mark in 2018.

The company employs a team of 12 at its Northern Quarter base.

Daniel said: “Working with FW Capital has been seamless – they quickly understood our business and the potential it has.

“This funding will allow us to take on key sales and technical staff to provide exceptional service to our growing customer base.”

Gavin Cowling, senior investment executive at FW Capital, commented: “The Steamhaus team has many years of experience in the sector and an outstanding track record of achievement.

“The growth of the business to date has been impressive and we are pleased to support the continuation of this with our loan.”

British Business Bank director Grant Peggie said: “Supporting new and growing businesses to help drive economic growth is a key objective of the Northern Powerhouse Investment Fund.

“This investment offers a great solution for a smaller business looking to grow and will support job creation in the Manchester region as Steamhaus continues to expand. We look forward to seeing to how the business develops over the coming years.”

The Northern Powerhouse Investment Fund operates from the British Business Bank’s HQ in Sheffield.

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