A company that has helped deliver some of the UK’s most high-profile bridge infrastructure projects has raised almost £1.4m in debt funding to support its further growth.
The funding for EKSPAN is the largest loan to date from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II). The Sheffield-based business, which is renowned as the leading independent bridge engineering specialist in the North, now plans to expand its capabilities and increase turnover by 50% in the next three years.
EKSPAN operates as a principal contractor, subcontractor and supplier and its in-house engineering design team supports a full range of services. With a strong foundation in bridge components, its expertise now includes structural repair, protection and strengthening across the building, civil engineering and marine sectors. It also offers diagnostic surveys, refurbishment and bridge bearing solutions.
Recent projects have included the iconic glass walkway at London Bridge, the M25 Gade Valley Viaduct which is a key component of the capital’s orbital network, and the A1139 Nene Bridge, a vital arterial route for Peterborough.
EKSPAN was established over 30 years ago, but for much of that time operated as part of larger corporates, most recently the USL Group. The company returned to independent ownership in 2023 with a buy-out led by the current management team consisting of Max Angerer, Jon Spence, Michael Fenton and Jordan Gerrard. Since then, it has expanded its team from 36 to 52 and has recently taken on additional office space close to its existing premises in Sheffield.
Max Angerer, Managing Director of EKSPAN, said: “Securing this funding is a significant milestone for EKSPAN and comes at exactly the right time in our journey. Since returning to independent ownership, we’ve been focused on building a dynamic, highly skilled team and investing in our in-house manufacturing to set us apart in the market.
“This support from NPIF II will allow us to accelerate our growth plans, expand our capabilities here in Sheffield and strengthen our position as the leading independent bridge engineering specialist in the North. Our goal is to increase turnover and continue delivering some of the UK’s most challenging and innovative bridge projects.”
Andy Tyas of Mercia Debt added: “EKSPAN has been renowned for its bridge engineering expertise for over 30 years. Max and the team have built a strong learning culture and created a fresh impetus for growth. As the UK embarks on a fresh era of infrastructure delivery, this funding will help them to take advantage of the opportunities ahead.”
Lizzy Upton, senior investment manager at the British Business Bank, said: “NPIF II was created to support ambitious businesses across Yorkshire and the Humber to achieve their growth plans, and EKSPAN is a standout example. With longstanding engineering expertise and a clear vision for the future, the team is leading on some of the UK’s most complex infrastructure projects. We’re excited to back its next phase of growth.”
Hart Shaw Corporate Finance in Sheffield office provided fundraising advice to EKSPAN.
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.