Central Group in Knowsley secures £700K to enhance digital transformation, job creation, and technological advancement.
- Funding from NPIF II – FW Capital Debt Finance backs Central Group’s operational expansion and knowledge transfer collaborations.
- The focus is on developing AI-driven diagnostic systems with academic partners for predictive machinery maintenance.
- Eight jobs will be added as a result of the investment, targeting growth in industrial system optimization.
- Shaun Sutton highlights the shift from reactive to proactive strategies due to the new funding, boosting asset reliability.
Central Group, a prominent electromechanical specialist based in Knowsley, has successfully secured a significant £700,000 investment aimed at advancing its digital transformation initiatives, fostering job creation, and spearheading technological innovations. This financial boost originates from the Northern Powerhouse Investment Fund II (NPIF II), managed by FW Capital Debt Finance.
A fundamental focus of this investment is the enhancement of the firm’s operational capabilities, particularly through collaborations with Liverpool University and Liverpool John Moore University. These collaborations are centered around a Knowledge Transfer Project, which combines academic knowledge with industrial prowess to develop an AI-driven prognostic health management system. This system is designed to enhance the diagnostics and maintenance optimization of industrial drives, a crucial area for the industry.
The investment will facilitate the creation of eight new positions within the company, supporting its strategic growth plans. By leveraging this financial backing, Central Group aims to bolster its role in the industry, especially in system diagnostics and maintenance optimization.
Family-run by the Sutton brothers, Shaun and Tim, the company’s governance benefits from over five decades of experience in the rotating machinery sector. Their leadership is crucial in integrating cutting-edge artificial intelligence algorithms and predictive analytics into mechanical systems. Such integration aims to significantly improve their reliability and operational performance.
Shaun Sutton, Managing Director, emphasizes the transformative nature of these changes, noting that, “We are making substantial changes by applying cutting-edge AI algorithms and predictive analytics to real-world mechanical systems, improving their reliability and performance.” This strategic shift from reactive maintenance to a predictive approach marks a pivotal moment for Central Group as it enhances its asset protection capabilities.
The substantial NPIF II investment empowers Central Group to significantly advance in digital transformation and industrial innovation.
