Builders merchant lays foundations for expansion with investment boost
A funding boost is set to support a building supplies firm’s expansion plans with 30 jobs to be created over the next three years.
Norgrove Building Supplies, based in Kidderminster, has secured investment from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by Midlands-based venture capital firm Midven.
The business specialises in supplying a range of building materials to the construction sector. In 2017, the company was acquired by Jack Norgrove and since then has grown its site capacity and product range.
This investment will support the firm as its launches an e-commerce platform, including a click and collect service.
Norgrove is also aiming to create 30 jobs over the next three years with a focus on roles in customer service, marketing and procurement.
Jack Norgrove said: “We are really pleased to have secured the investment from MEIF which will enable us to deliver on our growth plans. Getting to this point has been a journey and we are excited about what the future holds.
“Knowing we have the team at Midven backing us and believing in our vision is amazing and from the initial meeting, I knew the funding team were the right fit for our business. We are looking forward to working with Midven over the coming years, to achieve our goals, create jobs and progress the firm’s growth plans.”
Roger Wood, Midven director and MEIF principal, said: “Norgrove is a great example of how people are fundamental to business growth. Through this investment we are backing an extremely entrepreneurial and driven individual who has already delivered significant growth for his business, demonstrating that success can still be achieved in traditional sectors by doing things differently and well. We look forward to working with Jack over the coming years to help achieve his ambitious plans.”