Funding package to ignite fire engineering consultant’s growth plan
Register for free to receive latest news stories direct to your inboxRegister
Tenos, the Manchester-based fire engineering consultant, is focused on growth after securing an undisclosed funding package from Allied Irish Bank (GB).
Established in 1997, Tenos also operates from other locations in London and Bristol. The firm is an experienced independent fire engineers with a proven track record in providing fire solutions for landmark buildings worldwide.
In 2019 Tenos formed an Employee Ownership Trust which was also backed with funding from Allied Irish Bank (GB).
This promoted the engagement of employees in the continued successful operation of the business.
This latest funding from the bank comes on the firm’s second year anniversary of becoming an Employee Ownership Trust and allows Tenos to exit the deferred debt facility that was created for this. This has been achieved two years earlier than planned and demonstrates the firm’s financial growth and continued success.
Paul Hoban, Tenos director of finance and practice management, said: “During the last 12 months Tenos has achieved all of its growth targets despite COVID-19 and is on track to improve on this in the coming year.
“As a business we were geared up to work remotely already with many of our team working flexibly prior to the pandemic, so our ability to adapt to the changing working environment was relatively easy and has undoubtedly helped our continued progress.
“Our sector was also considered as key workers, which enabled our flow of work to continue and helped us to continue essential site visits and support our existing customer relationships which have been built on our ability to deliver an efficient and high quality, specialist approach.”
He added: “We have worked with Simon King and the team at Allied Irish Bank (GB) for two years and are delighted to secure this new finance facility and continue our relationship for now and the foreseeable future.”
Simon King, senior relationship manager at Allied Irish Bank (GB), said: “Tenos has continued to go from strength to strength and we are happy to continue to support them in their next stage of funding and growth which has been impressive during what has been a challenging time for many businesses.”