Valve specialist targets growth with funding boost

A West Yorkshire engineering supplier is aiming to accelerate growth after securing fresh funding to expand stock levels and create new jobs.

Huddersfield-based ValvePro has secured a six-figure loan from NPIF II – Mercia Debt Finance, managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II).

The company supplies valves, actuators and instruments to power stations and waste-to-energy plants across the UK and Europe, alongside maintenance support and technical advice.

Founded in 2015, ValvePro has increased revenue by around a third over the past two years and now employs 12 people.

Bosses say the latest funding will support plans to boost stock availability, improve responsiveness to customers and drive further expansion across the energy sector.

They add that ValvePro expect the investment to help increase revenue by 80 per cent over the next five years while creating six new jobs.

Roger Griffin, co-founder and managing director of ValvePro, said: “Power plants operate under high pressure and valves play a critical role in their operation. 

“Demand for valve replacements has grown as operators have extended the life of existing power plants, however due to tight construction budgets, even new plants can often benefit from fitting superior products.

“The funding will enable us to increase stock levels to ensure we have the right parts at hand and can provide a rapid service and invest in new maintenance equipment as part of our aftermarket growth plans.”

David Wright, of Mercia Debt, added: “Roger and the team are passionate about valves and have built a reputation for their expertise. 

“As demand for power increases, the need for their services is likely to grow. 

“The loan will help them expand the business and continue their role helping to keep the UK’s power plants up and running.”

Jamie Westwood, of Tudor Commercial Finance, provided fundraising advice to ValvePro.

The £660 million NPIF II fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Sarah Newbould, senior investment manager at the British Business Bank, added: “It’s great to see NPIF II supporting industry specialists like ValvePro as they continue to grow and strengthen their offering across the North. 

“Businesses like ValvePro play an important role in supporting critical infrastructure and supply chains.

“We look forward to seeing the business continue to grow as it increases capacity, creates jobs and builds on its strong reputation in the sector.”

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