Backing helps Mathewson heat up growth plans

A Sunderland-based heating specialist is set to accelerate its expansion after securing a six-figure investment.

Mathewson Limited, based in Washington, has received backing from the North East Elevate Fund, managed by FW Capital.

Founded as a specialist provider of underfloor heating and screed solutions, Mathewson offers a turnkey service covering design, supply and installation for commercial developments and high-specification residential projects.

The company has also developed expertise in delivering underfloor heating systems for modular buildings, using prefabricated heating mats that can be incorporated into concrete floor slabs.

Bosses say the funding will provide working capital to help the business scale its operations and invest in additional stock, plant and equipment as demand for energy-efficient heating solutions continues to rise.

They add the investment will support the next phase of growth as the business looks to build on increasing demand for high-performance heating systems.

Hannah Toward, managing director at Mathewson, said: “By securing the funding to handle our working capital needs, we’ve built a business that is ready to perform at pace. 

“Mathewson Limited was created in response to a fundamental shift in how buildings are designed and heated. 

“As the industry moves towards low‑temperature, low‑energy systems aligned with heat pumps and modern construction methods, underfloor heating has become a critical part of the solution. 

“Mathewson exists to deliver systems that are ready for the future. 

“Our focus is on delivering high‑performance systems with the operational capability to support projects at scale — combining technical excellence with the operational capability to support large scale commercial and residential developments. 

“This is shown in our work with Cameron Hall Developments at their luxury residential Stoney Wood Development at Wynyard Village.

“Keith Charlton and the team at FW Capital couldn't have been more supportive, they were patient and ensured we got the funding quickly. 

“That speed and understanding allowed us to move from the planning phase to being fully operational without losing any momentum."

The funding comes from the North East Elevate Fund, which forms part of mayor Kim McGuinness’ £100 million regional investment framework administered by The North East Fund.

Alongside the North East Accelerate and North East Spinout Inspire funds, the initiative aims to improve access to finance for start-ups, scale-ups and growing businesses across the region.

Keith Charlton, deputy fund manager at FW Capital, added: “We’ve supported Mathewson's transition via the provision of working capital.  

“It’s great to see them capitalising on our Elevate Fund to support the business and its future plans. 

“We were immediately impressed by the established management team at Mathewson and their extensive sector knowledge, combined with a unique capability to serve the modular building sector. 

“We are proud to support a business that is not only poised for growth but is actively contributing to the UK’s energy efficiency goals with the increased demand for underfloor heating.” 

Jason Hobbs, chief executive at The North East Fund, added: “Congratulations to Hannah and the team at Mathewson on securing investment from our Elevate Fund, which will help the company to grow further from its Washington base. 

“Improving access to finance for smaller companies from across our region is a key aim of the new funds programme which was launched by mayor Kim last year. 

“Our team is always happy to have an informal initial chat about eligibility and suitability for investment and so any interested business owners or managers should get in touch.”

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