Maintenance firm to create jobs after funding boost

A maintenance firm has unveiled plans to create more than 20 jobs after securing “milestone” six-figure support.

M&BG Group is bolstering its workforce following Midlands Engine Investment Fund II backing.

Bosses at the Birmingham-based operator say the cash will also provide working capital to take on larger contracts, expand into northern parts of the Midlands, Devon and Cornwall, and upgrade its vehicle fleet with electric vans.

Founded in 2005, the firm, which has further offices in Loughborough and Bristol, employs more than 200 people and provides services including property and grounds maintenance, and gutter and window cleaning. 

It works with organisations including Avon and Somerset Fire Service, West Mercia Police and Bournville Village Trust, with its contract book also including projects with Maybird Retail Park, Birmingham’s Rotunda and Eton College.

Phil Marsh, founder and chief executive, said: “This investment represents a major milestone. 

“We’ve built a strong foundation for growth, and this funding will enable us to take things to the next level.”

M&BG Group secured the backing through fund manager Frontier Development Capital.

Raj Minhas, of Frontier Development Capital, said: “M&BG Group is a key regional player within the property maintenance sector, and this funding will enable it to go from strength to strength.”

The £400 million Midlands Engine Investment Fund II provides debt finance from £25,000 to £2 million and equity investment up to £5 million to small and medium-sized firms across the region, and is overseen by the Government-backed British Business Bank.

David Tindall, British Business Bank senior investment manager, added: “We’re proud to support M&BG Group as it creates new jobs and brings its services to an even wider market.”

Mark Parsons and Rebecca Salt, of BK Plus, provided fundraising advice to M&BG Group.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.