Rowilco Fuels, a Liverpool-based fuel distribution company, has received £600,000 from venture capital firm Alliance Fund Managers (AFM).

Rowilco Fuels, a Liverpool-based fuel distribution company, has received £600,000 from venture capital firm Alliance Fund Managers (AFM).

AFM invested from the Merseyside Special Investment Fund, a public-private partnership with £107 million of assets under management.

Neil Williams, the managing director of Rowilco who established the company last year, says, ‘The investment from AFM has allowed us to open credit lines with a wider range of suppliers which in turn will enable us to offer highly competitive prices to our customers.’

Rowilco has annual sales of £30 million, expected to rise to £60 million next year. Its customers include housebuilder Bellway and Liverpool John Lennon Airport.

AFM investment director Mark Borzomato led the deal for the firm, assisted by investment manager Jon Wormald.