Washington firm benefits from six figure investment from mayor's fund
Mathewson Limited is helping to address an increasing demand for high-performance, energy-efficient heating systems
Washington-based Mathewson Limited, a specialist in underfloor heating (UFH) and screed solutions business, has successfully secured a six-figure investment from the North East Elevate Fund which is managed by FW Capital.
The investment in Mathewson is providing working capital to scale operations and acquire stock, plant and equipment.
It comes via the Elevate Fund, which is part of the North East Mayor Kim McGuinness’ £100m regional investment scheme.
The initiative “aims to strengthen access to early-stage finance for start up, scale up and growing companies in North East England, and tackle long-standing market failures that have hampered innovation-led growth in the region”.
Mathewson Limited is helping to address an increasing demand for high-performance, energy-efficient heating systems.
The Washington based company is also delivering underfloor heating for modular buildings, using prefabricated underfloor heating mats that can be incorporated into concrete floor slabs.
Hannah Toward, Managing Director at Mathewson said: “By securing the funding to handle our working capital needs, we’ve built a business that is ready to perform at pace.
“Mathewson Limited was created in response to a fundamental shift in how buildings are designed and heated. As the industry moves towards low‑temperature, low‑energy systems aligned with heat pumps and modern construction methods, underfloor heating has become a critical part of the solution.
“Mathewson exists to deliver systems that are ready for the future. Our focus is on delivering high‑performance systems with the operational capability to support projects at scale — combining technical excellence with the operational capability to support large scale commercial and residential developments.”
Keith Charlton, Deputy Fund Manager at FW Capital said: “We’ve supported Mathewson's transition via the provision of working capital. It’s great to see them capitalising on our Elevate Fund to support the business and its future plans.”
Jason Hobbs, Chief Executive at The North East Fund added: “Congratulations to Hannah and the team at Mathewson on securing investment from our Elevate Fund, which will help the company to grow further from its Washington base. Improving access to finance for smaller companies from across our region is a key aim of the new funds programme which was launched by Mayor Kim last year.”
You can find out more about securing finance for your business via the North East Fund webpage.