Wastewater solutions business cleans up with six-figure loan

Derby-based wastewater and energy specialist Watermark Systems has secured a £250,000 loan to support its growth plans.

The funding from MEIF Maven Debt Finance, part of the Midlands Engine Investment Fund managed by Maven Capital Partners and backed by the British Business Bank’s Recovery Loan Scheme, will provide Watermark with additional working capital to support essential operations and the purchase of materials.

Founded in 1984 by Mike Roberts and Peter Swindell, the business provides engineering solutions solely to the UK’s waste energy and water/sewage treatment sector, including the latest in GPS scanning, 3D modelling and design, pipework installations and structural steel access equipment. It has completed projects for Severn Water, Buxton Water and waste management solutions giant Veolia.

Jonathan Lowe, investment director for Maven, said: “We are delighted to be able to help Mike and his team push forward with their critical growth plans through a MEIF Recovery Loan Scheme facility to close a working capital gap. Watermark is a major player in this environmentally important sector, which has a significant impact on both the local area and economy. It is a well-run and already successful SME and our fresh funding commitment will enable the firm to further enhance its service offering.”

The firm will also use the debt package to support its ongoing rebrand.

Mike Roberts, founder and managing director of Watermark, said: “There was great support from Graham Hall and the team at Maven. Their very thorough due diligence process enabled us to assess and confirm our financial requirements with confidence. Watermark’s ability to take advantage of an uplift in sales is greatly enhanced by our improved cash flow position. With turnover increasing, recruitment of new employees is now underway and our success thus far has us excited for the company’s future.”

Mark Wilcockson, senior investment manager at British Business Bank, added: “The Midlands Engine Investment Fund invests in SMEs across the Midlands with a potential to grow, providing funding to support development, in this case through new materials and a stronger brand positioning, to create new job roles in the region. Other businesses in the Midlands looking for investment should consider MEIF funding options for future growth plans.”