Renovo Tool Group secures multi-million pound growth funding

Renovo Tool Group, a tool manufacturing and reconditioning business based in County Durham, is set to double its turnover following a multi-million pound growth funding package. The expansion is supported by a strategic six-figure investment from NPIF II – NEL Debt Finance, managed by NEL Fund Managers.

This investment helped unlock a broader £1.6 million funding package from Reward Finance, in addition to £100,000 in grant support from Durham Business Growth, delivered in partnership with UMi. The capital is intended to fund advanced equipment, increase production capacity, and create new skilled jobs.

This marks the fourth investment from NEL into the Renovo group since 2019. Renovo Tool Group operates as a collective of specialist tooling businesses providing custom manufacturing, distribution, and reconditioning services.