The Peterborough Evening Telegraph
£5 million boost for firm:
An electrical installations company in Peterborough has secured a £5 million investment as it looks to grow its operations.
McIntyre Electrical, which employs 158 people, is the first company to receive support from the newly created Foresight East of England Fund.
The Fund has supported a ‘buy-in management buyout’ of the company.
It is the next step for further expansion for the 14-year-old company, based in Waterworks Lane, Glinton.
It is recognised as a leading provider of safety-critical fire and electrical inspection and maintenance services, primarily for housing associations.
Established by Joe McIntyre and John Clifford, it has enjoyed rapid growth and has seen revenues double since 2018 with clients nationwide.
As part of the investment, Martin Gammon and Jesse Holgate will join the Company as Chairman and Chief Financial Officer, respectively.
Mr Clifford will remain in the business together with Mr McIntyre’s daughter Sarah Salmon and her husband
Chris Salmon.
Mr Gammon said “Joe, John, Sarah and Chris have done a tremendous job building McIntyre Electrical to the scale it is today.
“I’m excited to join as Chair and help continue to build on the company’s successes.”
Stephan Gueorguiev, Senior Investment Manager at Foresight, said: “We have been very impressed with the scale and national footprint McIntyre Electrical has been able to achieve while undergoing a period of rapid, profitable organic growth. We look forward to continue growing the business while delivering a high quality customer service.”