Swanbridge Hire and Sales (SHS), a Barry, South Wales, UK-based provider of high specification industrial scaffolding services, has received a £5.4m growth capital investment from Business Growth Fund (BGF).
The company intends to use the proceeds from the investment to expand into new sectors such as nuclear, pharmaceutical and demolition, and enable the development of extended service lines such as insulation, which can be delivered alongside its core scaffolding offering.
Founded in 1998 by CEO Paul Smith, SHS erects and dismantles large scale, technically demanding scaffolding structures for clients in the petrochemical, oil and power generation sectors. The company also provides complementary insulation services which are required by site owners, operators and contractors for essential maintenance and refurbishment work of industrial plants.
SHS delivered turnover of £14m in the year ending July 2012. It employs 226 people.
Richard Kilner, previously Managing Director of Cliffe Group (a construction and manufacturing group) and a Partner in the 3i infrastructure and growth capital teams, will join the SHS board as non-executive Chairman. Paul Oldham will also join the board as BGF’s representative.
FinSMEs
30/09/2012