Further Development Boosted by Investment

By October 11, 2019 Uncategorized No Comments
0_Mercia-GW-Power-Safe

We are pleased to announce that our business plan and strategy moving forward has us planning to double our turnover and create 10 new jobs after securing a £100,00 loan from a Northern Powerhouse fund. GW Power Safe, is led by entrepreneur Dan Haley and provides mechanical and electrical installation services to contractors and businesses.

We have enjoyed a successful period since receiving an initial £100,000 loan in June 2018, and since then we have increased staff from 16 to 27 and grown turnover to £1.6m. This latest funding will allow the company to employ more staff and take on new work.

Dan Haley, our MD said:
“I am delighted that we have secured the additional loan and really appreciate the support that Mercia and NPIF have given us. We have an exceptionally talented team here at GW Power-Safe and this cash injection gives us the confidence to keep moving forward with our growth plans.”

Dan set up the business in 2014 after losing his job when the company he worked for closed down, he rented his old office and employed three of the staff. We provide all elements that you would expect a building to have in terms of Mechanical and Electrical Services. These capabilities also span across different environments from schools to heavy industrial sites from initial concept and design to installation and commissioning.

The funding will provide additional working capital to fulfil our contracts and further expand the team.

Paul Arthur, investment manager at Mercia, said:
“The initial funding has resulted in a very positive outcome, allowing GW Power-Safe to strengthen its core team and secure larger and more prestigious contracts. It is great to be able to support the company once again as it continues to grow and create more local jobs.”

Having recently won two major contracts for work on a new-build school in Rotherham and the refurbishment of Hull’s Ennerdale Leisure Centre, we are now on track to more than double that figure to around £4m in the current year.

Mark Wilcockson, senior manager at British Business Bank, said:
“We are pleased that the Northern Powerhouse Investment Fund has continued to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets. This investment demonstrates how this funding can make a real and measurable difference to businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Further info & Credits:-

Media:
Phil Winter – https://www.business-live.co.uk/manufacturing/gw-power-safe-set-create-17052546?utm_source=businesslive_newsletter&utm_medium=email&utm_content=BL_YorkshireHumber_smallteaser_Text_Story4&utm_campaign=yorkshire_humber_newsletter

Northern Powerhouse Investment Fund (NPIF):
www.npif.co.uk

Mercia Asset Management:
https://www.mercia.co.uk
https://www.mercia.co.uk/news-media/news/2019/oct/9/young-entrepreneur-set-double-turnover-help-npif-l/

Image:
Shaun Flannery Photography Ltd

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