A capital injection of some £800,000 has successfully been received by a West Midlands electrical services provider with the help of Finance Birmingham.
The cash which the capital injection brings to ON-Power Electrical Services’ is a welcome boost and will support them with their future growth plans whilst also enabling the creation of 12 jobs within the business over the next three years.
Managing director Jonathan Billingham of Wolverhampton-headquartered ON-Power Electrical Services’ said of the newly acquired capital injection “Finance Birmingham’s funding package will help to transform our business, enabling us to capitalise on every opportunity to grow and develop ON-POWER.”
“It will ensure that we can fulfil major contracts from larger firms, and meet growing demand from all of our customers.
“ON-POWER’s expansion will rely on growing our repeat business as well as attracting new clients. We will be investing in our customer service and taking on new staff so that our work continues to be delivered to a high standard and within a deadline.”
The capital injection accessed via Finance Birmingham
Finance Birmingham’s investment director Ian Fairclough, added: “ON-Power Electrical Services’ is an exciting and fast-growing business, with a strong and ambitious management team. The working capital which has been provided by us here at Finance Birmingham will help the company as a whole to realise its full potential, as demand for its services continues to rise.”
Formed in 2012 ON-Power Electrical Services’ is currently working on some major construction projects, including the University of Leicester’s £30m medical science building and the £4m refurbishment of Weston Favell Shopping Centre in Northampton.
Its clients also include Royal Mail, Sainsbury’s, Asda, South West Trains, HSBC and National Grid.
ON-Power Electrical Services’ also has an office located at Birmingham’s Brindleyplace.