Grimsby mechanical contractor creates new Humber jobs with £150k NPIF investment

The Northern Powerhouse Investment Fund (NPIF) has invested £150k to support ProGen Services Limited as it seeks to recruit new staff.

Founded in 2014, the Grimsby-based company is an industrial and commercial electrical and mechanical contractor.

Progen provides mechanical, electrical, instrumentation, control and automation (MEICA) turnkey operations across the UK.

The £150k funding will enable the creation of at least 10 new jobs, including a new apprenticeship programme. The investment will also be used to scale up the business by acquiring new customers.

The investment was made by NPIF - Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

Jodi Spurrell, ProGen’s managing director, said: “Our business is on an upward trajectory, but in order to reach the next phase of growth, we needed the support of a financial partner.

“Paul and the team at NPIF have offered invaluable support, and with this new line of funding, we are in a position where we can take Progen to the next level.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union.

It uses funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Paul Arthur, investment manager at Mercia, added: “I have been impressed with the growth that ProGen has achieved since it was established just five years ago; it is testament to the hard work of Jodi and the ProGen team.

“I am delighted to have worked closely with Steve Parker from the Humber LEP Growth Hub to provide a firm financial foundation that will allow the company to achieve its ambitions.”