Powder coatings firm benefits from £50m Growth Loan Fund
An industrial powder coatings firm has received a loan from the £50m Growth Loan Fund to assist in the purchase of new equipment, increase levels of export, and create up to eight new jobs.
RW Powder Coatings Ltd is a family-run business located just outside Belfast, with Caroline Webb the managing director and father Roy managing operations. Incorporated in 2010, the company has primarily served the architectural aluminium market, having recently completed projects for a host of renowned clients, including the redevelopment of Ravenhill; the Aviva Stadium; Apple’s headquarters in Cork; Google in Dublin; the Ulster Hospital; the Velodrome and Aquatic Centre for the Commonwealth Games; and the Kensington Oval cricket ground in Barbados.
As the only Qualicoat approved supplier and the only Syntha Pulvin approved applicator in Northern Ireland, RW Powder Coatings has grown in popularity for architectural coatings in particular and is exporting its products throughout the UK, USA and Canada.
Roy Webb said: “This is a very exciting time for us as we continue to embark on our growth journey. Over the years we have invested heavily in the business and have committed to R&D and innovation so that we can continue to offer the most up-to-date products. This has paid dividends for us and our reputation for excellence is following us across the world, enabling us to compete on a global stage.”
Caroline added: “In terms of personnel, the company is expanding fast – we have seen an increase in staff of more than 30% since 2010 and plan to create up to eight more jobs in the near future.”
Finance for the £50m Growth Loan Fund – which provides mezzanine finance to established Northern Ireland SMEs seeking to fund growth – has been provided by Invest Northern Ireland and private investor, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
WhiteRock Capital Partners LLP has been established to respond to enquiries of the Fund by the consortium of three partners – Strathtay Ventures Limited, NEL Fund Managers and Clarendon Fund Managers, all of which are authorised and regulated by the FCA.
Senior Investment Manager, Mark Canning said: “RW Powder Coatings investment in new equipment and R&D represents their commitment to long term growth through providing a high quality service underpinned by a strong focus on customer service. Aside from its long list of prestigious clients, the company’s level of ambition and speed of export growth is encouraging.”
Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth potential and generally be in the manufacturing, engineering or tradable service sectors. Loans will be typically unsecured and personal guarantees will not be sought. The loans provided are expected to be complimentary to existing sources of finance, including banks, trade finance sources and equity investors. Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term.
For more information about the Growth Loan Fund’s criteria please contact or go to