Leeds firm Nutral Solutions secures funding for expansion
Leeds-based Nutral Solutions, a workforce management specialist, has secured a seven-figure investment to support its expansion across the UK and Europe. The investment was provided by NPIF II – NEL Debt Finance, managed by NEL Fund Managers, and will be used to accelerate the company’s growth plans.
Founders Alex Gosney and Ben Wardleworth now hold complete control of the company, which offers solutions for workforce coordination, regulatory adherence, and supply chain verification in construction and infrastructure. Established in 2021, Nutral Solutions leverages advanced tools and industry knowledge to assist contractors in handling labor sourcing, legal requirements, and detailed workforce logistics.
According to the company, it has managed over £416 million in workforce spending and supported more than 500 projects in the past 12 months. It has also surpassed six million workforce hours managed. With the new investment, Nutral Solutions plans to expand its operations across the UK, Ireland, and mainland Europe, and invest further in its technology platform, services, and team.
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Alex Gosney said: “Buying out a partner while running a fast-growing business isn’t something you do lightly, and the debt structure had to work for our company. NEL understood that, and understood us.” He added: “We’ve got £416 million of spend under management, we’ve onboarded over 500 projects in the last twelve months, and the pipeline for the year ahead is the strongest we’ve had. NEL’s support means we can go after it.”
Michael Williams, investment executive at NEL, commented: “This was a complex transaction that required a collaborative approach from all parties involved. Working closely with Ryecroft Glenton, we were able to structure a solution that was equitable for both the new and exiting shareholders, while ensuring the business maintained sufficient headroom to support its future growth ambitions.”
The investment was delivered with support from advisers at Ryecroft Glenton Corporate Finance, Hay and Kilner, and UNW. The £660 million Northern Powerhouse Investment Fund II (NPIF II) fund, operated by British Business Bank, provides loans and equity investment to help small and medium-sized businesses. NEL Fund Managers are also managing NPIF II, NEL Smaller Loans, which offers investments from £25,000 to £100,000 to new and growing businesses.
