MSIF backs scaffolding firm with £200k loan
ONE of Liverpool’s largest scaffolding firms has taken a £200,000 loan from the Merseyside Special Investment Fund to expand its operation and treble sales to £3m.
Atlantic Services NW has worked on both the city’s cathedrals, St George’s Hall and the Liverpool One shopping district.
It has recently secured a contract to work on part of the new Royal Liverpool Hospital project.
The business, based at Knowsley Industrial Park, was established in February 2000 and is run by director Anthony McVey alongside shareholders Bill and Peter Savage. It plans to use the MSIF cash to take on more staff to deliver a number of new contracts.
Mr McVey said: “There are a series of growth opportunities available to us but we needed to invest in order to take advantage of them.
“With the support from MSIF we now aim to grow the turnover of the business from £2m to around £3m over the next couple of years and also expect to increase our staff from 36 to around 50 during the same period.”
MSIF investment director Malcolm Jones said: “Atlantic have been established for many years and have built up an excellent reputation which has helped them win some big contracts over the years. There are lots of opportunities open to them and we are very pleased to be able to support them so that they can capitalise on this and expand the business.”
