Partner Article

Teesside contractor pushes for growth

A Teesside environmental and engineering contractor is reaping the rewards of expanding its operations into new areas.

AAG Swepco provides integrated renewable, engineering and facilities management services throughout the UK.

Having more than doubled in size in the last two years, the company is now looking to treble sales over the next four years through increasing its focus on providing ‘sustainable’ services for customers.

To help achieve this objective, AAG Swepco has turned to regional fund management firm NEL Fund Managers who are investing £600,000 into the company. The investment will help AAG continue its growth ambitions, which remain on target and are currently forecast for £6m in this financial year.

Andrew Dyne, business development director, said: “The company structure has been developed to ensure that there are no boundaries between our business units, and we’re already seeing increasing numbers of customers working with us across two or more sectors.

“Our relationship with NEL means that they had a sound working knowledge of our business, and an appreciation of the strategic and commercial goals that we have set ourselves - the NEL team has the expertise to help facilitate our growth plans and we’re very pleased to have secured the investment.”

The new NEL investment has been drawn in equal parts from the NEL Growth Fund, which is managed through NEL’s specialist venture capital division, NEL Capital, and the firm’s debt and mezzanine finance division, Evolve Finance.

Simon Johnson, senior investment executive at Evolve Finance, said: “AAG Swepco has enjoyed swift, well-managed growth over the last few years, and their recent performance clearly shows the benefits that outside investment capital can bring to a business.

“The company’s ongoing evolution and extended focus on all aspects of business sustainability has provided us with an excellent investment opportunity, and we’re very pleased to support the implementation of their development plans.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .