Northern Powerhouse cash creates jobs at Warrington-based Bmech
Engineering company Bmech has secured a six-figure investment to create jobs and unlock turnover growth.
The Warrington-based business will use the £100k boost from NPIF – FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund, to take on 10 new staff and increase its turnover to £3m.
Bmech, which employs a team of 29, currently generates sales of £2.2m.
That figure stood at £180k when current MD Rob Ditchfield took over in 2011. His father founded the business 27 years ago.
Bmech provides energy-efficient heating, air conditioning, ventilation and electrical systems, primarily for the facilities management sector and end users.
Commenting on the new investment, Rob said: “We realised that we needed external funding to maximise our growth potential.
“FW Capital understood our vision exactly and put together a funding package that perfectly suited the needs of our business.”
He continued: “The investment has enabled us to bring the electrical and air conditioning divisions in-house so that all works in this area are now undertaken by our own engineers rather than sub-contracted. We have a business plan to reach a £5m turnover within three years.”
Carol Bolland, investment executive at FW Capital, said: “The contractual nature of businesses in this sector mean that it can be hard to obtain finance from traditional sources but it is an industry we are actively investing in.
“We’re delighted that our funding has already made a significant impact at Bmech and would like to encourage other similar businesses to come and speak to us if they are looking for capital to grow.”