Six-figure boost serves up new expansion for city centre coffee house
A six-figure investment will see the next phase of growth at a city centre coffee house.
NPIF-FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund, has backed Michaels Coffee House, situated in Manchester’s Royal Exchange Arcade.
Opened in August 2017, the business is an independent café located in the heart of Manchester’s shopping district.
It is owned by Thasos Michael and offers organically grown, high quality, locally roasted, single origin and Rainforest Alliance certified coffee beans, along with a variety of contemporary beverages and homemade food.
The business has enjoyed impressive growth and sought funding to support the next stage of its development.
Business owner, Thasos Michael, said: “We’ve built up a great reputation across the city and Michaels Coffee House is famous for our pistachio and Spanish lattes – both best sellers for their unique flavour and rich smoothness – along with a range of delicious pastries, homemade toasties, cakes, yogurt pots and soups.
“We are at the point where we are looking to grow the business further and consider new opportunities which will create additional jobs and meet increasing customer demand. The backing and support from Loz O’Connor at FW Capital has been great.”
Loz O’Connor, Fund Manager at FW Capital, said: “Firstly, thanks must go to Geoff Clowes from the Access to Finance team for the introduction to the business.
“Michaels Coffee House is an established, well known business, and I was thrilled to work with Thasos to help in supporting his growth aspirations.
“He has lots of great ideas for expansion and this investment supports his plans for growth through additional coffee shops, allowing the team at Michaels Coffee House to provide the best possible service for their rapidly expanding customer base.”
Debbie Sorby, at the British Business Bank, said: “We’re excited to see Michaels Coffee House on such a promising growth trajectory, fueled by NPIF investment. In central Manchester, the coffee shop is contributing to the vibrant business landscape in the city, with exciting opportunities on the horizon.”
The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.
