Darlington firm trebles in size after major global contract
Wade Construction Management Consultants, based in Darlington, has reported rapid growth after receiving a £500,000 investment from NPIF II – FW Capital Debt Finance.
The funding is part of the Northern Powerhouse Investment Fund II (NPIF II), which is managed by FW Capital.
The firm recently secured a major global partnership agreement with one of the largest pharmaceutical companies in the world.
The NPIF II funding will support the increased activity from this partnership, creating more than 20 jobs and supporting future growth.
This is the second round of investment from FW Capital for the business.
Last year, Wade Construction Management Services received finance to support its rapid growth in the pharmaceutical and life science industries.
The funding also supported the launch of the Wade Academy, which provides training and development to enhance the support provided to employees working in the construction sector.
Daniel Wade, managing director at Wade Construction Management Consultants, 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.
“We’re also 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.”
Wade Construction Management Consultants was launched in 2018 by Mr Wade to remove the overspend risk associated with traditional methods of procurement.
The firm works with clients to ‘deliver projects quickly, producing an accurate costing and scheduling projection, giving them a strategic and competitive advantage when partnering on projects’.
The company is regarded as a key operator for construction management in the pharmaceutical, life science, and process sectors.
It works to close the gap between the creation of vital medicines and delivery to the service users by facilitating effective, strategic, and professional project and construction management.
Dave Hawkins, portfolio executive at FW Capital, said: “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.”
NPIF II – FW Capital Debt Finance can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire, and Merseyside.
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.
The NortherfII aims to build on the success of the initial fund, with the purpose of ‘driving sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England’.
The Northern Powerhouse Investment Fund II is increasing the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.