North East civil engineer secures £250k investment to grow resources
A North East civil engineering firm has announced that it has received a second six-figure investment to take on bigger projects.
G&B Civil Engineering, based in Gateshead, has worked with NEL Fund Managers to secure £250k from the North East Small Loan Fund, supported by the European Regional Development Fund.
The grant is G&B’s second through the scheme, having secured a £50k investment last year.
The firm, which is aiming to increase its annual turnover by around 25 per cent, will use the new funding to provide the resources it needs to take on bigger projects as its profile grows.
As part of the company’s development plans, half a dozen jobs have already been created, with more expected to follow later in the year.
James Riley, managing director, commented: “We’re coming out of the pandemic in good shape, with lots of demand for our services and opportunities to develop the business, and we’re now aiming to step up into the main contractor role wherever we can.
“As well as benefiting us as a business, taking on projects as a main contractor allows us to add more value to the services we provide for our clients and to have a greater direct influence on how operations are planned and carried out.
“Our highly-skilled team has succeeded over the years by delivering projects on time and on budget, and scaling up our operations in this ambitious manner will give them more of an opportunity to make their mark on the work we undertake.
“Working with the NEL team has been a straightforward process from the off and they have a good understanding of both how the sector operates and what we’re looking to achieve in it.”
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