Monitoring firm plans jobs after £500,000 backing

A machinery monitoring firm is creating jobs after securing a £500,000 loan.

Ailsa Reliability Solutions plans to recruit ten staff following backing from British Business Bank’s Investment Fund for Scotland.

Bosses say the cash will “help drive the company towards becoming a globally-recognised brand”.

They add the funding will allow the Ayrshire-based company – which provides electrical and mechanical equipment monitoring services to oil and gas, pharmaceutical, manufacturing and renewable energy operators – to boost software development.

Jamie Burns, founder and managing director, said: “As an early-stage business, it is refreshing to find a lender that is able to focus on our significant potential for growth, helping us grow our team and continue delivering through innovation and client-centric solutions.”

Ailsa Reliability Solutions secured its support through fund manager The FSE Group.

Jim Pritchard, investment manager, said: “Ailsa Reliability’s robust pipeline, coupled with its understanding of the market and clear vision for the future, presented a compelling case for investment.

“We are excited to support the team’s expansion plans, which are built on solid financial forecasts and a proven track record of delivering significant savings and efficiencies to clients.”

Sarah Newbould, British Business Bank senior investment manager – nations and regions investment funds, added: “Scotland has a proud history of engineering and manufacturing.

“The Investment Fund for Scotland was established to help entrepreneurs access the funding they require to develop and thrive, and Ailsa Reliability Solutions is in a great position to support firms to save energy and minimise downtime.”

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