Darlington firm to expand after £500,000 backing

A Darlington-headquartered construction management consultancy is set for further growth after securing a £500,000 investment from NPIF II – FW Capital Debt Finance.

Wade Construction Management Consultants has trebled in size over the past two years and recently signed a global partnership deal with a leading pharmaceutical company. 

Bosses say the funding, managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II), will support the increased activity from this partnership, creating over 20 jobs and “fuelling further expansion”.

Founded in 2018 by managing director Daniel Wade, the firm specialises in construction management for pharmaceutical, life science and process sectors, helping clients to reduce overspend risks to ensure accurate project costing and scheduling.

Daniel said: “We’ve seen the business grow rapidly and this latest round of funding gives us further confidence to take on new opportunities and fulfil this new partnership agreement.  

“As a business we’ve demonstrated our agility to support clients and provide fast solutions. 

“This collaborative way of working has proven to be successful, providing clarity for our clients, reducing risk, and helping to speed up project completions. 

“As a result, our business has trebled in size and this latest contract win is a significant boost to our business.” 

The investment builds on previous funding from FW Capital, which also supported the launch of Wade Academy, a training initiative aimed at upskilling construction professionals and driving industry excellence.

Dave Hawkins, portfolio executive at FW Capital, added: “Daniel and his team have delivered on everything they set out to do from the first round of funding and this latest injection of finance is fuelling further expansion. 

“They’ve secured a significant new contract with a global pharmaceutical business and needed some working capital support this and help to create new jobs. 

“It’s fantastic to be part of their journey and watch the business prosper.”

Daniel added: “We’re continuing our focus on bridging the skills gap in the construction industry with the Wade Academy, helping to create more opportunities to work in collaborative environments and change perceptions.

“The backing from FW Capital has once again been great. 

“FW Capital is the only lender that has taken the time to understand us and back our business aspirations. Dave Hawkins and the team get what we do and are very easy to work with.”

The £660 million Northern Powerhouse Investment Fund II, launched by the British Business Bank, covers the entire North of England and provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses grow. 

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.