Yorkshire firm detecting further growth thanks to major investment
A major six-figure investment will help a Huddersfield firm further improve its growth at home and abroad.
Leak detection and environmental protection systems firm Andel has received a £180k investment from NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
Andel is Britain’s largest manufacturer of specialist in-building water, oil and gas leak detection systems.
The NPIF funding will be used to drive Andel’s product research and development programme and maximise its strong potential for further growth in both domestic and international markets.
Current projects include a complete overhaul of the award winning Floodline leak detection Control Panels to incorporate all the latest technology and features to help maintain a competitive edge, and also Andel’s semi-permanent FloodWall, which is suitable for commercial and domestic applications and is made from recycled plastic and reinforced with steel to withstand the forces of flooding.
The £180k will also provide the deposit for a new road tanker for the IWS division, which operates a number of road tankers to empty interceptor tanks and safely dispose of the oil and silt waste.
Keith Charlton, senior investment executive at FW Capital, said: “Andel has a strong record of sales growth.
“In the past two years, the company has experienced sales growth of 14 per cent and 28 per cent respectively, with profitability rising accordingly.
“This is an exciting time for Andel and we are delighted to have been able to support them in their incredible success.”
Julie Greenwood, Andel managing director, said: “The investment from FW Capital comes at a time of unprecedented growth, with many exciting new projects in the pipeline.
“The team at FW Capital really understand our business and were able to offer the funding we needed in a really helpful and efficient way. We look forward to continuing our partnership with them.”
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