Six-figure deal sparks growth plans for electrical and mechanical firm

A Weston-super-Mare electrical and mechanical business has announced expansion plans after receiving a six figure investment from the British Business Bank’s South West Investment Fund.

The funding has been arranged by appointed fund manager FW Capital.

Waterhouse Electrical & Engineering Services has now introduced several initiatives as part of its strategic growth plans and following increased demand. These include the launch of new services in the renewables sector to offer the installation and maintenance of heat pumps, solar panels and electric vehicle charging.

The company also plans to use the investment to recruit several more engineers, boost marketing activity and improve systems and technology to improve efficiency and support further growth.

Waterhouse Electrical & Engineering Services has been trading for over 26 years.

In 2023 the business received equity investment from investment firm Canonbury Group, headed by Daniel Lee and Alex Collins.

Daniel Lee, director of Canonbury and Waterhouse Electrical & Engineering Services, said: “This funding is helping to accelerate our growth ambitions, allowing us to invest in new services and our staff. This is integral to our future success. We’re constantly looking at new ways to enhance our service offering and are focused on developing our presence in the renewables, EV (electric vehicles) and catering equipment sectors. The support from Jordan Berg and the team at FW Capital has been fantastic, following our referral to them by our advisor William Mudd at Westcotts Chartered Accountants.”

Jordan Berg, investment executive at FW Capital, added: “Investing in ambitious, growing businesses is exactly what the South West Investment Fund is about. With the support of Daniel and Alex the management team are taking Waterhouse Electrical & Engineering Services to the next level and I’m looking forward to supporting their exciting journey.”