Private equity backed civil engineering contractor to create jobs in record year
Civil engineering contractor Utilities Design and Planning, backed by private equity firm Foresight Group, is set to create 60 jobs this year as it looks ahead to a record 2018.
The company has invested in a bigger operating base in Salford and is predicting 2018 will be another record year for revenues and profits with turnover expected to rise from £7.5m to around £12m.
UDP is looking to take on 60 people this year, taking the total head count to 140.
The company said the move to the new two-acre site on Eccles New Road will allow it to take on more projects on the back of a robust order book and a growing long-term pipeline of work.
Managing director, Mike Flynn, who joined the company last year, said: “2017 was a strong year for UDP in terms of growth, new senior management team recruits and the installation of new commercial processes and operational systems.
“We have also invested £400,000 in new plant and vehicles. We are ambitious for further growth and expect revenue to soar past the £10m barrier this year thanks to winning more work from long term strategic partners.”
The business has also diversified incorporating a utilities division, specialising in the delivery of gas, water, electric and communication underground infrastructure.
Flynn added: “Within the strategy for 2018 we hope to open two further satellite depots in the Midlands and in Yorkshire. UDP is working closely with Salford College and this year we will be increasing our apprentices from three to six.
Claire Alvarez, senior investment manager at Foresight Group’s Manchester office, and a non-executive director at UDP added: “We are really pleased with the progress at UDP since our investment just over a year ago. The new management team has a clear strategy to take UDP to the next level, which we are delighted to support, particularly as this means new jobs are being created.
“Foresight remains keen to talk to business founders or owners looking for a supportive strategic partner to help them realise value or to meet their growth aspirations.”
