Investment company pumps £1.5m into burgeoning Newtownabbey gym firm, BLK BOX
INVESTMENT firm Whiterock Finance has secured a £1.5 million finance deal with NI gym equipment company BLK BOX.
The investment comes as Whiterock celebrates its 10-year anniversary and a total investment of £100m across various businesses here during that period.
The latter figure has been invested via Whiterock Finance’s three funds; the Growth Loan Fund I, the Growth Loan Fund II and the Growth Finance Fund, all of which are part of Invest NI’s Access to Finance suite of funds.
BLK BOX will use the funding to support its growth.
William McCulla, Invest Northern Ireland’s Director of Corporate Finance, said Whiterock Finance funding helps address challenges faced by SMEs here.
He said: “Whiterock Finance has become an established part of the local SME funding ecosystem and it is great to see first-hand Growth Loan Fund II having such an impact on a high-growth company like BLK BOX.”
Ben Stocks, the recently appointed Managing Director of BLK BOX, said his the company has experienced exceptional growth, especially during the pandemic, adding business has “since gone from strength to strength, expanding our team and manufacturing premises to meet demand”.