The package, from FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF), will fund a premises refurbishment, additional staff, and marketing and website development to support the further
expansion of the business.
Connectus Group provides fibre optic broadband cabling and end user products including broadband, VOIP, mobile, telephony, data storage and CCTV. The company works with a host of blue-chip clients such as BT and Peel Holdings.
Doncaster-based Connectus Group achieved a turnover of £500,000 last year, and this is expected to rise to £1m in 2019. The company currently employs nine staff, with two more full-time roles being created by the end of this year.
Paul Ruocco, Connectus chairman, said: “Following our acquisition of Eximus Solutions Ltd at the beginning of the year we applied for funding from NPIF - FW Capital Debt Finance to be used to support the continued growth of the company and the further deployment of our full fibre network around Doncaster.
“We were delighted with the £150,000 investment from FW Capital it has been used to create five new full-time roles and the continued growth of the company.”
Grant Peggie, Director at British Business Bank, said: “This investment will allow Connectus a greater presence online and to recruit additional staff.”