Business Loans Case Study
Birstall-based Owen Electrical Contractors was formed in 2015 and manages installations for customers including property developers, schools and supermarkets. Martin Owen runs the company with long-standing business partner Lee Murphy.
Owen Electrical’s current projects include a development in Middleton, Leeds, that includes 116 new houses and a 60-bedroom care home.
The company is also on-site at a new school in Rochdale and was recently awarded a contract for a 228-apartment development in Sheffield.
Owen Electrical is a successful company and enjoyed significant growth in 2022. The business required investment to support the recruitment of additional staff, equipment and office space.
Finance Yorkshire involvement
Finance Yorkshire has invested £100,000 from its Business Loan fund. Martin Owen said: “The business started out with me and three others carrying out rewires and upgrades for council buildings. From there, we have formed trusted relationships with contractors and engineers that has enabled us to secure larger, private sector contracts.
“This investment will help us to bring in new people and expand our space while looking into expanding into new areas such as electrical maintenance.”
The investment rationale
Alex McWhirter, chief executive of Finance Yorkshire, said: “Owen Electrical’s client portfolio of well-known residential and commercial construction companies is testament to the excellent service it provides.
“With a reputation for quality and value for money, it is no surprise that its services are in high demand. We look forward to supporting Owen Electrical to further realise its business growth potential.”
Owen Electrical is forecasting further growth this year having recently achieved accreditation with the National Inspection Council for Electrical Installation Contracting and became a gold member of Constructionline, the UK’s largest network of construction buyers.