Stockport educational technology specialist Computeam has secured a six figure investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund, to support its further growth.
The funding boost will support the firm’s growth strategy, which is geared to an ambitious 40-45% year-on-year growth this year. The investment will support Computeam’s bids on a number of major government supply contracts into the education sector, most notably for schools taking advantage of the Department for Education’s Connect the Classroom project.
The programme provides funding for schools in eligible areas to upgrade their wireless network infrastructure. Computeam also plan to create 20 new jobs over the next three years as part of its growth.
Computeam are education specialists, providing IT services and products to help schools and multi-academy trusts inspire learners and improve educational outcomes. Services it provides include IT support, internet connectivity, network installation, audio-visual technology and Cloud technologies, including both Microsoft and Google platforms. Employing over 80 people, Computeam operates from its headquarters in Stockport and also has offices in Taunton.
Owen Napier, CEO at Computeam said: “By upgrading network technology pupils can benefit from faster and more reliable access to online resources which will enhance their learning. The projects we are undertaking present a substantial uptick in our growth. This year we are aiming for 40-45% year-on-year growth and, long term, we aim to double our business by 2025. The working capital from FW Capital is making a key difference in supporting our plans.”
Adam Husband, senior investment executive at FW Capital added: “Computeam are trusted specialists in the sector and work in partnership with a variety of education providers across the UK. I’ve been impressed with their growth and I am delighted to help them to secure funding to support new business wins and future expansion. Computeam’s ethos is centred on improving educational outcomes using technology and this investment will help drive this further.”
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and the Tees Valley.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.