Process solutions provider, FPE Global has secured a further £1m funding from private equity firm, NorthEdge Capital to invest in a new advanced test centre.
FPE Global – which specialises in supplying bespoke bulk material handling systems, process equipment, and a variety of after-market capabilities – is developing its strategy to be an end-to-end solutions provider in the bulk materials handling industry.
The company recently relocated its headquarters to Cheadle, Staffordshire to increase the size of its production facility and support its ambitious expansion plans.
The latest round of funding will be used to develop FPE’s testing capabilities, allowing the firm to conduct trails for customers and keep it at the forefront of innovation.
It follows funding secured towards the end of 2015 which went towards relocating the business headquarters, upgrading the manufacturing capability of the group and expand its service offering.
FPE Global’s sales director,Jeremy Booth commented: “By constantly developing our customer insight, it has enabled us to tailor our products and services to meet the evolving needs of the markets we serve.
“We pride ourselves on offering knowledge-based solutions to clients on a global scale and work in partnership to help them achieve their goals, which is essentially to increase production and reduce costs.”
NorthEdge Capital – a private equity firm focused on backing businesses in the North of England – acquired a majority stake in FPE Global in February 2013.
Investment manager at NorthEdge Capital, Phil Frame added: “The latest round of funding demonstrates our continued commitment to support the company as it enters its next phase of growth.
“The new test centre significantly enhances FPE’s service offering while also adding value to its growing customer base.”
FPE Global Ltd was formed from the following companies providing more than 30 years of experience and technical ability in the materials handling field: FPE Process Equipment; Flomat Bagfilla International Ltd.; Neu Engineering Ltd.; FPE Site Operations Ltd.; Aeromaster International Ltd., andFPE Technologies Ltd..