Funding boosts builder's job creation blueprint

A family-run building contractor has laid the foundations for staff expansion after securing six-figure support.

Carroll Group is creating ten jobs following a NPIF II – FW Capital Debt Finance loan.

Bosses say the funding will also help bolster the Liverpool-based firm’s presence across the social and affordable housing sectors.

Founded more than 20 years ago, Carroll Group works with local housing associations and employs 50 staff, supporting a further 500 sub-contractor roles through its supply chain. 

Terry Carroll, managing director, said: “We’ve been on a growth journey for the last three years, which has seen our turnover increase steadily, with double-digit growth over the last year.

“We’re expanding our services across the North West, looking at new work streams that include a series of new builds with a focus on social and affordable housing.

“The investment gives us increased confidence; we’ve got a very healthy pipeline of business coming through, which is boosted by this funding.”

Caroline Turley, investment executive at FW Capital, which manages NPIF II – FW Capital Debt Finance as part of the Northern Powerhouse Investment Fund II, added: “Terry and the team are recording impressive growth. 

“Carroll Group is a fast-expanding business that is led by a strong team with a proven track record.”

The £660 million Northern Powerhouse Investment Fund II is overseen by British Business Bank and covers the North of England, providing loans from £25,000 to £2 million, as well as equity investments of up to £5 million, to small and medium-sized businesses.

Sue Barnard, British Business Bank senior investment manager, added: “With housing high on everyone’s agenda, it’s great to see NPIF II backing ambitious businesses that are driving real progress in this space.”

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