A family business has started work on the refurbishment of derelict offices on Abernant Road in Aberdare following a £200,000 investment by the Investment Fund for Wales.
NTJ Plasterers is run by Velda and Neil Edwards along with their two sons Tom and Jake. The company purchased the two-storey building in 2018 and is now undertaking a major refurbishment programme that has been part-funded by a £200,000 debt finance loan from the Investment Fund for Wales, which was launched by the British Business Bank in late 2023.
Once complete, the new offices will be the headquarters for NTJ Plasterers which employs 22 staff and 90 sub-contractors to deliver building projects and specialist plastering services to the construction and housing sectors throughout the UK. Clients include various local authorities, housing associations and new home developers.
The new offices will include a dedicated training suite for staff, including the 13 apprentices that NTJ currently employs.
Director Tom Edwards said:
“My parents have spent the last 15 years working hard to build the business, investing in the future and creating jobs for local people. As a family, we want to continue to expand our services, so it is important that we have the right office space to accommodate that growth.
“We bought the offices knowing that we would need external funding to help finance the refurbishment, so we are grateful to FW Capital for stepping in when we needed them. The new offices will give us all a boost as we head into the new year.”
Sarah Albrighton is an Investment Executive with the FW Capital. She said:
“This is a well-established family business that is committed to the local area. They have developed an excellent reputation and are a trusted partner in the industry so are now well-placed to expand the business further.”
The British Business Bank backed Investment Fund for Wales operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000). FW Capital is responsible for larger loans (£100,000 to £2 million) and Foresight manages equity deals (up to £5 million).
The Investment Fund for Wales helps to increase the supply and diversity of early-stage finance by providing options to smaller businesses that might otherwise not receive investment. Funding is designed to help businesses with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.
