£250,000 cash injection helps construction takeover.
Midlands-based engineering and environmental consultancy BWB is building on its success with £250,000 of funding from Finance Birmingham.
BWB, which provides a wide variety of services in the construction, development and property management sectors, has used the cash injection to strengthen its public sector experience with the acquisition of QMP, a building surveying, project management and quantity surveying firm.
The business operates from seven sites across the country, including Birmingham and Nottingham. The acquisition of QMP will now give it a presence in Northampton and Cambridge. The funding will also support BWB’s growth plans in Birmingham, allowing it to create 13 new jobs in an office that has already seen impressive growth from 6 to 45 staff over the past 5 years.
Paul Collins, Group Finance Director at BWB, said: “Finance Birmingham understood our needs immediately and has been extremely flexible in providing a funding package suitable for all stakeholders. It has been critical in enabling us to continue our growth strategy.”
The funding has been provided by Finance Birmingham as part of its £56 million Mezzanine Fund – a pot of money open to SMEs across the West Midlands and supported by the Regional Growth Fund. Businesses from all sectors are considered providing they have plans to develop and grow.
Graham Mold, Finance Birmingham’s Investment Director, said: “BWB is one of the largest owner-managed multi-disciplinary consultants in the UK and their Birmingham office is growing rapidly on the back of a booming property sector. We are delighted to support their growth strategy at this exciting time.”