Teesside firm goes for growth with Tees Valley business grant

A longstanding Teesside firm is looking to new markets for growth after receiving more than £50,000 in grant support from Tees Valley Combined Authority.

Tees Valley Mayor Ben Houchen visited Carroll and Meynell’s upgraded manufacturing facilities at their Eaglescliffe site after receiving £54,360 from the Tees Valley Business Growth Fund, which is part funded by the European Regional Development Fund.

Established back in the early 1970’s by former ICI workers Bob Carroll and Mike Meynell, Carroll & Meynell design and produce specialist electrical transformers and power solutions for industry.

After identifying significant opportunity for growth in creating customised transformers across a variety of sectors including Oil & Gas, Renewable Energy, Rail, UPS, Mining, Nuclear and Construction the new funding will allow the firm to double their custom build capacity and significantly increase their product flexibility. The upgrade has seen the firm employ additional workers at the site to support this growth.

Support from Tees Valley Combined Authority’s Business Solutions team has seen Carroll & Meynell begin to work closely with the Department for Business and Trade to explore export opportunity, develop fully funded plans for workforce skills development as well as the firm become members of NOF and NEPIC to develop greater penetration of the key growth markets.

Steve Benger, managing director of Carroll & Meynell said: “The support from the TVCA team to help us with funding, access to market, skills and skills training has been superb. Through 2023 we will have a much greater and sustainable business platform to drive our growth plans from”

Tees Valley Mayor Ben Houchen said: “Having a business support service that’s comprehensive yet easy for local firms to access is a top priority of mine. It’s brilliant to see the support that we’re providing backing local business to win new work and take on extra staff.

“We’re lucky to have so many ambitious firms across Teesside, Darlington and Hartlepool that are keen to grow, so I’d urge them to contact the Business Solutions team to see how we can work together to unlock their full potential.”

By Mark Adair – Correspondent, Bdaily

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