NorthEdge invests more in FPE Global
PRIVATE equity firm NorthEdge has pumped in more money to fuel growth at FPE Global, the engineering firm that was its maiden investment in 2013.
The additional funding has helped fund the relocation of the company, which makes sugar & powder processing systems, within Stockport, from Charles Street in the town centre to 30,000 sq ft at the Orion Business Park, near Cheadle.
The undisclosed funding will also allow FPE to upgrade its manufacturing capability and expand its service offering.
Chief financial officer Ben Howard said: “This investment will assist in repositioning FPE Global as a premium solutions provider in the powder processing segment and also fund our efforts to expand the on-site service offering for our customers.
“It will also allow us to improve our customer knowledge, giving us more scope to be proactive in our approach. The next phase of our expansion has already begun with the launch of our standard product range and the continued development of our after-market services which includes spares, preventative planned maintenance and reactive repair work.”
Phil Frame, investment manager at NorthEdge and a board member at FPE Global, said: “FPE has a dynamic and entrepreneurial management team who have positioned the business well for the next phase of growth.
“They are undertaking major projects to improve the services and products on offer to its customer base and we are pleased to be supporting the firm as it relocates to first class new premises.”