Software specialist eyes further expansion following NatWest funding package

A Stockport based provider of software and IT infrastructure for businesses throughout the UK has secured a finance deal with NatWest as it looks to for growth opportunities.

Innov8, which employs 80 staff at its offices in Stockport, York and Bromsgrove, has seen significant growth since it was founded in 1997, with strategic acquisitions expanding the scope of the business and its geographic footprint.

In November 2022 the firm, which supplies Sage software as well as bespoke products for SMEs, acquired Barnsley based Wharncliffe Business Systems, expanding its presence further into Yorkshire, as well as adding additional software products to the Innov8 portfolio.

In line with the firm’s future growth ambitions, the finance package gives Innov8 the flexibility to quickly take advantage of any opportunities for strategic acquisitions, as well as the ability to explore new product lines in the software market.

Phil Astin, financial controller at Innov8, commented: “As the business has grown organically and through acquisitions over the last few years, we wanted to secure a new funding partnership that matched our needs and future ambitions.

“This new relationship with NatWest gives us the flexibility and freedom to explore new opportunities, which really puts us in control of our own destiny.

“The team at NatWest has been invaluable in terms of their advice and support in terms of helping us move from a previous provider. It’s felt like a seamless transition for us and we’re delighted to have this new partnership in place.”

Mark Faulkner, relationship director at NatWest, added: “As well as providing flexible financing solutions, we work hard to remove barriers to enterprise, so that businesses can thrive.

“It’s been fantastic to work closely with the team at Innov8 to not only provide them with a finance package that suits their needs but also support them with the wider aspects of taking a business on to the next stage of their already impressive growth journey.”

By Matthew Neville – Senior Correspondent, Bdaily

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