A historic foundry in Grimsby that has been operating for over a century has secured a new six-figure investment to support its expansion and environmental goals.
Fowler & Holden, located on Railway Street, has received funding from NPIF II – FW Capital Debt Finance, managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II). This marks the third round of support from NPIF and FW Capital for the company, which will use the funds to increase capacity and enhance the environmental performance of its Grimsby site.
The business, owned by engineering group TGM Industrial, operates from a purpose-built 20,000 sqft facility developed with earlier NPIF – FW Capital funding in 2021. That investment boosted production and manufacturing capacity by up to 80%.
Founded in 1919, Fowler & Holden provides foundry and engineering services to global clients, using modern CNC machines and traditional machine tools. TGM Industrial acquired the firm in 2021.
Tim Brooksbank, director at Fowler & Holden, said: “Since TGM Industrial Group acquired Fowler & Holden in 2021, we have reinvested over £1.1m into our site, plant, and process infrastructure, with approximately £650,000 supported by FW Capital over this period. These investments are a testament to our commitment to the long-term success of our facilities and our workforce.
“By prioritising environmental credentials and health and safety, we are not only reducing our footprint but also creating a superior working environment for our team. We have found FW Capital to be a pragmatic and supportive partner throughout this journey.”
Dave Hawkins, portfolio executive at FW Capital, added: “We continue to be impressed by the management team’s vision and are proud to support their ambitions for growth. This latest funding cycle is instrumental in driving operational efficiency and reducing emissions, both of which are core to Fowler and Holden’s sustainability goals. Having worked with the team since 2021, this is a great example of how we provide ongoing support to help businesses scale responsibly and successfully.”
