NWIX on growth drive after funding boost
TECHNOLOGY company NWIX has moved its HQ from Cheshire to Liverpool after sealing a £500,000 funding deal.
NWIX, currently based in Macclesfield, provides bespoke IT infrastructure systems, has agreed a deal for a mezzanine loan from MSIF’s Merseyside Loan & Equity Fund.
It now plans to add more staff as it seeks to boost turnover in the next year from £3.6m to more than £5m.
NWIX has moved to The Plaza on Old Hall Street, Liverpool. Its network operating centre and some back office functions will remain in Macclesfield though.
The company provides heavy lift fibre connectivity through a nationwide network to provide high bandwidth, fibre based communications through some of the leading UK data centres to major blue chip organisations including Moneysupermarket.com Trader Media Group, e-llan (the Isle of Man Communications Authority) and KPN International, the Dutch communications group.
NWIX was founded in 2004 by founder Nick Whittaker who previously designed and built the Manchester Internet Exchange which services hundreds of Internet Service Providers across the UK.
Steve Smith, who has worked with public sector investment body Liverpool Vision for some time, was appointed NWIX’s chief executive in November to help drive it to the next stage in its evolution.
He remains working part time for Liverpool Vision as their digital company specialist using his Software City vehicle to help match entrepreneurs to investment.
Mr Smith said: “Nick has spent the last seven years building up the business and is now well placed to exploit the tremendous asset he has created. We really needed a city base and Liverpool is the perfect place for a company that attracts the best of the digital world.
“I have strong links here and there is excellent infrastructure for digital businesses as well as a skilled workforce which is crucial for us as we enter a growth phase. It was an easy decision to join NWIX once I understood the strong reputation they enjoyed nationally”.
“MSIF were key partners from the outset working very hard to ensure that we received the right investment for our business”.
Malcolm Jones, investment director for the Merseyside Loan & Equity Fund said: “NWIX has already built up an excellent reputation and is working with some big clients. The individual skills of the management team complement each other and I am very confident they will grow the company in line with the business plan. We are very pleased to be supporting them.”
Advisors for MSIF were Craig Scott of Hill Dickinson who provided legal advice and Dan Jackson at Langtons who undertook financial due diligence.
NWIX currently employs 20 staff and this is expected to grow to 40 over the next three years.
MSIF’s Merseyside Loan & Equity Fund provides loans, mezzanine and equity funding between £50k and £2m.
