Vimeo logo Twitter logo LinkedIn logo

Case Studies

Header icon
Back to Case Studies
Team photo BCRS

Utility Works

Team photo BCRS

A Solihull-based energy consultancy has doubled in size after securing a £65,000 investment from the Midlands Engine Investment Fund (MEIF).

Utility Works Group, a partner for businesses looking to reduce their energy costs and become more environmentally friendly, secured the MEIF investment through BCRS Business Loans.

The funding boost has allowed the company to move into new larger office space and employ additional members of staff, building the team up to support growth.

Utility Works Group Founder and Sales Director, Craig Gillespie, said:

“Securing funding has helped us take a big step towards achieving our ambitious growth plans and we expect to double the size of our workforce again this year.

“As energy prices tend to go up by ten per cent per annum, it is important for profitability and environmental sustainability that businesses have an energy audit to see where improvements can be made. We can then suggest better tariffs and ways of reducing energy consumption and carbon emissions.

“I set Utility Works Group up two years ago after becoming frustrated with an industry that was fixated on profit at the expense of customer service. We have changed all of that and have set up a model that works for all of the businesses we support.”

Louise Armstrong, Senior Business Development Manager at BCRS Business Loans, who supported Craig and the team throughout their loan application process, said:

“We are delighted to have supported the growth of Utility Works Group, which has not only doubled in terms of office size but has also provided four new jobs for local people. Social and economic impact is something we are passionate about at BCRS Business Loans.

“After meeting Craig and fellow directors Lee and Tom, it was clear to see that there was a vast amount of industry and management experience, plus an impressive business plan.

“We believe that no viable business should go unsupported and offer a relationship-based approach to lending.”

Ryan Cartwright, Senior Manager at the British Business Bank, said:

“The MEIF was set up to help transform the business finance landscape across the Midlands. It is great to see MEIF finance is supporting expansion plans and job creation and we would encourage any smaller businesses in the region to explore the options available through the MEIF.”

Pat Hanlon, Director for Access to Finance at GBSLEP, said:

“This is a fantastic example of one of the initiatives which are available to businesses in the region looking to expand.

“As well as helping to double the size of its office space, this move will support newly created jobs for local people at the Utility Works Group and we’re looking forward to seeing the business continue to thrive.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo
Find Out More

If you would like to meet with one of MEIF's appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans page
Learn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance page
Learn More
equity finance

Equity Finance

£50k – £2m

Equity Finance page
Learn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept page
Learn More