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Debbie Pierce

ENER-G secures £30m finance facility

Engineering firm ENER-G has secured a new £30 million credit facility with Barclays Corporate to support its overseas expansion strategy.

The deal consists of a £15 million revolving credit facility and a £15 million loan.

Salford-based ENER-G, established in 1997, currently turns over £130 million and has a global workforce of 750 people.

Peter Southby, group finance director, stated, “We are genuinely excited by the prospects for growth overseas in our business and look forward to strengthening our relationship with Barclays as we continue our development in the future.”

David Culshaw, relationship director for Barclays Corporate in Manchester, said that the finance package demonstrates the bank's confidence in ENER-G’s business model.

He added, “It is a genuinely global business that has its sights firmly set on further international expansion.

“Our substantial knowledge of the energy sectors and our ability to provide our clients with an end-to-end working capital solution ensured we were best placed to support them with their growth ambitions.”

By Kirsty Hewitt

ENER-G secures £30m finance facility
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