NatWest funding facilitates growth for Sheffield building services firm

Sheffield building services company, LX Engineering (North) Ltd (LXEN) has used a six-figure funding package from NatWest to drive its targeted growth plans.

The business which specialises in providing mechanical and electrical building services to the construction industry, will use the bank funding to support the delivery of contracts over the next 24 months worth up to £25m.

With annual turnover set to grow to £18m in the next two years, LXEN will deliver projects ranging in value from around £500k to £10m.

Projects include both private and public sector works, such as residential developments, commercial offices, schools and contracts for the Ministry of Justice.

Tim Sadler, commercial director of LX Engineering (North) Ltd, said: “Since we took over the business in 2015, it has grown steadily, and we have built on our reputation as a reliable and proactive mechanical and electrical engineering services firm.

“NatWest has been instrumental in this growth and the finance provided has given us a strong foundation on which we can build and progress new contracts, whilst supporting the business year-round.

“We have an exciting future ahead of us and we look forward to celebrating another profitable year.”

The company currently employs 25 members of staff across offices in Sheffield and Leeds, with further recruitment planned within the next year to accommodate projects.

LXEN also has an apprentice training and graduate scheme and is in the process of recruiting two new apprentices as part of its programme in Sheffield and Leeds.

With a focus on developing technical and transferable skills to encourage careers in the industry, the programme has been hugely successful in helping young people into full-time employment or further education and training.

The business was first established over 20 years ago as part of Longcross Group and became privately owned in 2015 when current directors Tim Sadler, Phil Wainwright and Martin Womersley acquired the company.

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