By Maximilian Clarke
A Salford-based company providing specialist, renewable energy solutions is geared for a rapid overseas expansion, following a £15 million investment from Barclays Corporate.
The deal, which includes a £15 million term loan and a £15 million revolving credit facility, was arranged by David Culshaw, Relationship Director and Glenn Clarke, debt finance at Barclays Corporate.
Based in Salford, the ENER-G group of companies was created in 1997 and has since become a UK leader in clean power generation from renewable and sustainable sources and combined heat and power technology.
The business has grown through acquisitions and organically and is currently turning over £130million, employing more than 750 people globally with a presence in 17 countries.
“We are genuinely excited by the prospects for growth overseas in our business and look forward to strengthening our relationship with Barclays as we continue our development in the future,” said Peter Southby, Group Finance Director.
David Culshaw, Relationship Director for Barclays Corporate in Manchester added: “This is a significant moment for ENER-G; it demonstrates our confidence in the business model and provides a blueprint of how visionary companies can achieve their commercial aims with the right support.
“ENER-G is a genuinely global business who has their sights firmly set on further international expansion. Our substantial knowledge of the energy sectors and our ability to provide our clients with an end-to-end working capital solution ensured we were best placed to support them with their growth ambitions”
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