A long-standing 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. Thanks to their financial backing Waterhouse Electrical & Engineering Services has introduced several initiatives as part of its strategic growth plans and following increased demand. These include the launch of new services in the renewable 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 enhance efficiency and support further growth.
Waterhouse Electrical & Engineering Services is run by an experienced management team and 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. Waterhouse provides a comprehensive range of mechanical and electrical facilities maintenance services, planned and reactive maintenance and projects throughout the Somerset, North Somerset, Bristol, Bath and South Gloucestershire areas. The business also recently acquired Weston-super-Mare business Chilled Heat, that specialises in the supply, install, service and maintenance of commercial catering, air conditioning and refrigeration equipment.
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.”
Lizzy Upton, Senior Manager at the British Business Bank said: “Waterhouse Electrical & Engineering Services is a dynamic business that is embracing technology to target growth sectors like renewable energy and electric vehicles, while providing skilled local employment. This investment underscores the commitment of the South West Investment Fund to foster economic growth and innovation in the region.”
The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead. Fund manager FW Capital provides debt finance using the South West Investment Fund to businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
