Two more deals for North West Fund

THE £185m North West Fund has announced two more deals followings its £250,000 investment in Rock Networks.

The Venture Capital pot managed by EV has made a “significant” but undisclosed investment in Edge Public Solutions – a consultancy offering advice to public sector organisations which was set up by managing director Jim Asplin last year.

The Sale-based company advises on change management and efficiency savings plans and its management team have all played supporting roles in other venture-backed businesses that concluded in successful exits.

Richard Young, fund manager of the North West Fund for Venture Capital, said: “Jim and his team are widely respected in their industry, having delivered major change programmes over many years.

“This investment illustrates the Fund’s enthusiasm for backing proven business managers who have decided to break-out and build their own businesses.”

Meanwhile, Noisy Drinks North West – a company set up to become sole distributor of the Noisy Drinks range of healthy iced drinks in the region, has received £105,000 from the loans portion of the North West Fund, which is operated by FW Capital.

The Stockport-based company will use the money will to increase its share of the wholesale iced-drinks market and it plans to install 100 new machines this year. It already has has 730 machines at more than 320 outlets including Alton Towers, Chester Zoo, Tesco and Haven Holidays.

Director Gary Parker said: “The market for healthy, high-quality iced drinks has really taken off and is forecast to grow considerably over the next five years.
“We plan to increase our sales as well as to increase the number of outlets we supply across the North West, North Wales and Staffordshire.”