NORTHEDGE Capital has invested in stairlift designer and manufacturer Platinum Stairlifts, backing the existing management team led by founder Tim Frear.
Based in Keighley, West Yorkshire, Platinum Stairlifts manufactures a full suite of stairlift products.
The company employs more than 100 staff and distributes to 40 countries worldwide, including France, Germany, the Netherlands, and the US, through its network of authorised dealers.
A spokesman said: “NorthEdge’s backing will allow the company to continue to invest in new product development, enhance its proposition for distributors and further strengthen its presence across international markets.”
The investment was led by NorthEdge’s John Rastrick, partner and head of Yorkshire and the North East, Tom Rowley, a director, and James Marshall, an investment manager. James Buckley joins the company as non-executive chairman.
Mr Frear said: “The reason I chose to work with NorthEdge is that they developed an impressive track record of supporting high growth manufacturing businesses in the region, making them the ideal partner for us.
“The stairlift market has a number of strong underlying growth drivers and we are excited about accelerating our growth plan with the investment from NorthEdge.
“In the coming years, we hope to enhance our position as the preferred supplier for stairlift distributors by continuing to do what we do well – make great products and provide the highest levels of service to our distributors.”
Mr Marshall, said: “Platinum is well positioned to accelerate its recent growth in the global stairlift market, a market that looks set for long-term expansion.”