Con­trac­tor to cre­ate 10 new jobs af­ter re­ceiv­ing £100,000 NPIF loan

Yorkshire Post - Business - - NEWS / BUSINESS - Lizzie Mur­phy BUSI­NESS RE­PORTER @lizziec­mur­phy

A busi­ness which pro­vides me­chan­i­cal and elec­tri­cal in­stal­la­tion ser­vices is look­ing to boost growth af­ter se­cur­ing a £100,000 loan.

The fund­ing from NPIF-Mer­cia Debt Fi­nance, which is man­aged by Mer­cia Fund Man­agers and part of the North­ern Pow­er­house In­vest­ment Fund, will al­low Hull-based GW Power-Safe to take on larger con­tracts and cre­ate 10 new jobs over the next year.

The com­pany was es­tab­lished in 2014 by Dan Ha­ley, then aged 25, af­ter be­ing made re­dun­dant from his job as elec­tri­cal con­tracts man­ager.

He rented the of­fice he had pre­vi­ously worked from and started out with a team of three. The busi­ness has al­most dou­bled its turnover each year and now em­ploys 16 peo­ple.

GW Power-Safe pro­vides ser­vices to both main con­trac­tors and busi­ness cus­tomers, cater­ing for all as­pects of a build­ing’s elec­tri­cal, plumb­ing and HVAC (heat­ing, ven­ti­la­tion, and air con­di­tion­ing) needs and at all stages of a pro­ject, from ini­tial con­cept and de­sign to in­stal­la­tion and com­mis­sion­ing.

Clients in­clude ma­jor lo­cal con­trac­tors and lo­cal au­thor­i­ties, while projects have in­cluded the re­cent ren­o­va­tions at Hull Univer­sity, Scun­thorpe Li­brary and He­don Li­brary.

GW Power-Safe plans to in­crease sales by up to 25 per cent in the 12 months to June 2019.

The fund­ing will pro­vide ad­di­tional work­ing cap­i­tal and al­low it to di­ver­sify its ser­vices and work on larger projects.

Dan Ha­ley, chief ex­ec­u­tive of the busi­ness, said: “I am de­lighted we have se­cured £100,000 fund­ing from the North­ern Pow­er­house In­vest­ment Fund.

“We are very am­bi­tious at GW Power and have a long-term plan to sup­port our growth whilst main­tain­ing a healthy profit. The cash in­jec­tion will have a pos­i­tive im­pact by giv­ing us the con­fi­dence to scale the busi­ness and start com­pet­ing for the larger projects by em­ploy­ing high qual­ity en­gi­neers and pur­chas­ing key equip­ment.”

Paul Arthur, in­vest­ment man­ager at Mer­cia, said: “GW Power-Safe of­fers clients a pro­fes­sional and flex­i­ble ap­proach and the com­pany has seen sus­tained growth since Dan es­tab­lished the busi­ness in 2014. This in­vest­ment will en­able it to ten­der for higher value con­tracts and cre­ate new jobs in Hull.”

Grant Peg­gie, direc­tor at Bri­tish Busi­ness Bank, said: “Dan has done in­cred­i­bly well to start and grow the com­pany to a team of 16 in only four years. GW Power-Safe has gained an ex­cel­lent rep­u­ta­tion.”

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