Frank Olsen Furniture firm Northern Powerhouse fund

Nantwich firm Frank Olsen Furniture has earned a £25,000 investment from the Northern Powerhouse Investment Fund (NPIF).

The boost will support the company’s expansion from a start-up to a scale up business following a sharp rise in retailer demand for its products.

The firm, based on Alvaston Business Park, designs and manufactures bedside, cabinet and TV and media stands, incorporating remote technology to wirelessly charge mobile phones and other handheld devices.

Some of its clients include major retailers like House of Fraser, Bensons for Beds, and Arighi Bianchi.

As a result, turnover has grown quickly since the company was founded in 2016 and received a £25,000 British Business Bank Government backed Start Up Loan managed by Business Finance Solutions (BFS) earlier this year.

The additional £25,000 investment will allow the business to buy stock required to fulfil confirmed orders as well as bring roles in-house to improve margins.

Led by Managing Director Charlie Graybrook, the company is set to create three new jobs.

Charlie said: “Interest in wireless charging continues to pick up momentum.

“And with major companies just beginning to explore its capabilities, businesses utilising this technology have already launched quality products to the market and are in a great position to capitalise.

“We have seen first-hand strong demand for this technology and have been delighted with the response our products have received by customers and major retailers.

“With this investment from NPIF, we are able to invest in new stock, bring roles in-house and create new jobs, allowing us to build on the strong growth we have already achieved since we launched last year.”

Mark Gibbons, Senior Loans Manager at Business Finance Solutions, said: “Frank Olsen Furniture is a great example of how the alternative finance service structure in the North West has evolved to support businesses from the outset and throughout their growth journey.”

And Sue Barnard, at British Business Bank, added: “Businesses in Cheshire and Warrington continue to display a strong appetite for growth, investment, and a desire to innovate.

“Frank Olsen Furniture is a prime example of a business that is ahead of the curve.”

The Northern Powerhouse Investment Fund provides microloans, debt and equity investments, ranging from £25,000 to £2 million, to help small and medium sized businesses to start up, scale up or stay ahead.

For more information about Northern Powerhouse Investment Fund, visit www.npif.co.uk

(Pic: Left to right Charlie Graybrook, Mark Gibbons, Lynsey Graybrook, and Sue Barnard)

One Comment

  1. Grant McVety says:

    I’ve got a level 3 diploma in carpentry and joinery, ive got on site experience, have worked for Eastfield in the past as well as a furniture company based in wynbunbury and would be very interested in any vacancies you may have.
    Regards Grant McVety

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