A Merseyside energy and sustainability consultancy has raised £500,000 from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II), to fuel its growth plans.
Inteb – which boasts high-profile clients including AstraZeneca, American Golf, British Land, Bupa and the Royal Albert Hall – advises businesses on ways to improve sustainability, reduce energy costs and comply with energy and environmental standards. The company has started to carry out projects such as the installation of solar energy systems, LED lighting and energy efficiency improvements, and is now looking to expand this capacity, enabling it to offer a complete end-to-end service.
Inteb has more than doubled its turnover in the past three years to £3.6m and increased staff numbers from 21 to 33. Founded in 2004, the Birkenhead-based business expects to achieve 25% year-on-year growth over the next four years and create 20 additional jobs. Its latest growth drive follows a recent management buy-out which gave control of the business to a four-strong team led by the existing Managing Director, Tom Kelly.
Tom Kelly said:
“For 20 years our team of surveyors, consultants and engineers have been providing expert advice on ways to save energy or improve sustainability and Inteb has become a trusted partner to many clients. However until recently, they have had to find separate contractors to carry out some of the sustainability improvement work we have proposed as consultants. By having the ability to implement and manage projects ourselves, we can offer our clients a complete service. The NPIF II funding will provide additional working capital to enable us to expand our team and fund work in progress on these more costly capital projects.”
Gary Whitaker of Mercia said:
“Inteb is unusual in that it not only helps clients with energy procurement but also advises on reducing energy use and improving sustainability, and it is now extending its service even further. This, together with wider market trends – such as businesses’ efforts to improve their ‘green’ credentials, deal with volatile energy prices and the impact of energy ratings on property valuations – is expected to drive further expansion in the future. We are pleased to be able to support Tom and the Inteb team as they continue their growth journey.”
Brian and Duncan McCann of Shareholder Strategies provided fundraising advice to Inteb.
NPIF II – Mercia Debt Finance can provide loans in the NPIF II area with a primary focus on the Yorkshire and Humber regions of City of Kingston upon Hull and East Riding of Yorkshire, North Yorkshire, South Yorkshire and West Yorkshire.
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.