County Durham asset management firm creates new jobs with six-figure funding

Southern Asset Management, a Stockton-on-Tees specialist structural testing and asset management firm is celebrating new contract wins and job creation after securing a six-figure funding boost.

The funding was provided by NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund (NPIF).

Funding will help support the firm’s fast growth after securing new contract wins with local authorities across the UK including Leicestershire Council and the North and Mid Wales Trunk Road Agent (NMWTRA).

Southern Asset Management is also investing in JCB plant machinery, “state of the art innovative” testing software, and the development of an online data asset management portal which will give clients a “never-before-seen” level of data capture alongside “unparalleled” control over their own assets and data.

Established in 2022, Southern Asset Management is run by managing director Steve Southern. It is a structural testing and asset management business that primarily tests steel lighting columns, high masts and other metallic assets. The business is fully recognised by the Highway Electrical Registration Scheme (HERS).

Steve commented: “Without the loan from NPIF - FW Capital we wouldn’t be where we are today. Rachel Smith and the team have been brilliant. The funding has provided the platform we needed to facilitate growth and secure significant contract wins. I am grateful for the confidence they have shown in the business.

“I’m proud to say that Southern Asset Management is the first in this sector to implement a full NDT (Non Destructive Testing) apprenticeship, which alongside helping the company drive innovation and development, is of great benefit to the Tees Valley area.

“We are introducing eight new apprenticeship roles at our Stockton-on-Tees site and are also proud to support the employment of war veterans, getting them back into work. Achievements like this wouldn’t have been possible without the financial backing from NPIF - FW Capital.”

Rachel Smith, investment executive at FW Capital, added: “Southern Asset Management has experienced impressive fast growth from a standing start and is a dynamic and engaging business. The level of expertise in their sector is extensive which is reflected in their series of new contract wins to bolster the expansion of the business even further.”

“Steve is very passionate about creating new jobs and opportunities locally in Teesside and his use of technology in the online portal system is a great example of how he is innovating to support his UK wide client base.”

By Matthew Neville – Senior Correspondent, Bdaily

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