Sizeable investment for 1st Group

The 1st Group has garnered a six-figure equity investment from FW Capital in order to help it with its growth plans.

The Newcastle-based property group is looking to expand its range of services and enter new markets across the asset management, valuation and surveying sectors.

“Our management team has over 80 years’ combined experience in property and financial services and our practical approach has helped us win new business and build our reputation,” said Graham McIntosh, 1st Group’s chief executive.

“We’re always looking for new ways to minimise costs and maximise value for our clients and we’ve spotted an opportunity to capitalise on our market insight.”

FW Capital made the investment from the £20 million North East Growth Plus Fund which can provide single-round investments of between £350,000 and £1.25 million.

Rob Jones of FW Capital, who led the deal, said: “We’re pleased to back the 1st Group with this investment. They’ve spotted an opportunity and created a strong market offering by drawing upon their combined knowledge and technical expertise.

“We’ve been extremely impressed by their commitment to providing their clients with the highest quality of service.”