Bridge engineer secures record growth loan

An engineering company is accelerating its growth plans with new investment.

Sheffield-based EKSPAN has secured a £1.4 million loan from NPIF II – Mercia Debt Finance, marking the largest deal to date from the fund. 

Established over 30 years ago, EKSPAN returned to independent ownership in 2023 following a management buyout. 

Since then, it has increased staff numbers from 36 to 52 and recently expanded into new office space near its Sheffield base.

Bosses at EKSPAN, which has worked on some of the UK’s most high-profile bridge projects, say the firm aims to grow turnover by 50 per cent over the next three years.

Max Angerer, managing director of EKSPAN, said: “Securing this funding is a significant milestone for EKSPAN and comes at exactly the right time in our journey. 

“Since returning to independent ownership, we’ve been focused on building a dynamic, highly skilled team and investing in our in-house manufacturing to set us apart in the market. 

“This support from NPIF II will allow us to accelerate our growth plans, expand our capabilities here in Sheffield and strengthen our position as the leading independent bridge engineering specialist in the North. 

“Our goal is to increase turnover and continue delivering some of the UK’s most challenging and innovative bridge projects.”

Andy Tyas, investment manager in the NPIF – Mercia Debt team, added: “EKSPAN has been renowned for its bridge engineering expertise for over 30 years. 

“Max and the team have built a strong learning culture and created a fresh impetus for growth. 

“As the UK embarks on a fresh era of infrastructure delivery, this funding will help them to take advantage of the opportunities ahead.”

EKSPAN acts as a principal contractor, subcontractor and supplier, with in-house engineering and design teams supporting structural repairs and upgrades across civil, marine and construction sectors. 

Its recent projects include the M25 Gade Valley Viaduct, the Nene Bridge in Peterborough, and the glass walkway at London Bridge.

Sheffield-based Hart Shaw Corporate Finance provided fundraising advice to EKSPAN.

The £660 million NPIF II fund, which is operated by the British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses, driving innovation and creating opportunities for businesses to grow, scale and thrive.

Lizzy Upton, senior investment manager at the British Business Bank, added: “NPIF II was created to support ambitious businesses across Yorkshire and the Humber to achieve their growth plans, and EKSPAN is a standout example. 

“With longstanding engineering expertise and a clear vision for the future, the team is leading on some of the UK’s most complex infrastructure projects. 

“We’re excited to back its next phase of growth.”

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