MII Engineering, a Caerphilly, UK-based provider of maintenance and repair activities for all types of plant and machinery, secured a £400k loan from the Development Bank of Wales.
Funding for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund through the Welsh Government.
The loan will be used for working capital to deliver a series of new contracts.
MII Engineering provides maintenance and repair activities for all types of plant and machinery along with a full range of services, including mechanical, pipe, electrical, manufacture, and scaffold. Key clients include Tata Steel, among others.
The company, which currently employs 250 staff, has been previously supported by Finance Wales with five fully repaid loans totaling £1.8 million since 2011 when the current directors led a management buy-out.