Group Management Electrical Surveys
Business Loans Case Study
GMES works for clients on major construction projects in the UK and wider Europe. Its raft of services include thermal imaging surveys, calibration of test equipment, electrical validation surveys and the production of operation and maintenance manuals.
Managing Director Steve Cressey led a management buyout of GMES in 2013. A year later, the business required working capital to grow and add more services to offer existing and new clients.
Finance Yorkshire Involvement
A £50,000 Business Loan from Finance Yorkshire supported Steve and the GMES team in their ambition to take the business in their own direction.
Steve said: "We used to do only electrical inspection and testing but over the last two years we have added more services and as a result increased our client base by more than 50 per cent."
The Investment Rationale
Finance Yorkshire’s John Ellis said: "Steve and his team had the ambition and foresight to take on GMES, with our investment providing a kick start to its growth. The successful addition of more services has seen the company achieve rapid growth and with it the ability to take on larger contracts in the construction industry."
GMES has doubled its turnover in the last two years and is on target to achieve £1.2m turnover in 2016. The new services it offers have enabled the company to grow – the operation and maintenance manuals alone now account for 15 per cent of the business.
Steve added: "We had the vision to take the business on and grow it by adding more services and we plan to add even more next year."
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire