An electrician who set up his own building services business after being made redundant at the age of 25 has secured a £500,000 loan from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II), to support the next phase of its growth.
Dan Haley’s company, GW Power-Safe, now employs 46 staff in addition to on-site contractors and has a turnover exceeding £12m. Founded in 2014, the Hull-based company has expanded into renewables and energy and has recently moved to larger premises that will act as a showcase for its work.
The loan from NPIF II – Mercia Debt Finance will enable it to complete the fit-out of the building and provide additional working capital to take on larger projects.
GW Power-Safe has received investment from both the first NPIF and NPIF II. The business has been growing steadily since its inception, currently having around £16m of projects in the pipeline. It also expects to create ten new jobs in the next 12 months.
GW Power-Safe serves mainly public sector clients such as schools and colleges, local authorities and NHS trusts. Previous projects have included the refurbishment of Hull’s Albert Avenue baths and a regional museum, and it is currently working on battery installations for the NHS and a regional ambulance service. Renewables and energy – including solar, battery storage and low-carbon heating – account for around half of its work. The company helps clients to decarbonise their business and works closely with C3 Group, a sustainability and design practice co-founded by Dan, to offer a complete service from design to delivery.
Its new 5,270sq ft building, which overlooks the A63 on the approach to Hull city centre, aims to show how retrofitting existing commercial properties and using renewable energy can significantly reduce their carbon footprint.
Dan, who is now 37 and is Managing Director of GW Power-Safe, said: “As energy costs rise and the focus on sustainability grows, businesses are looking for practical ways to reduce both emissions and costs. We support clients in their decarbonisation journey, and our new premises reflect our commitment to applying the same principles to our own operations. It’s about leading by example.”
Rebecca Pickering of Mercia Debt added: “Through sheer ambition and determination, Dan has grown GW Power-Safe from a small contractor to a respected firm that works on high-profile projects and has moved into renewables. Its role is also changing from subcontractor to working directly with end users to manage an entire project. We are pleased to support the company once again on the next stage of its growth journey.”
Lizzy Upton, Senior Investment Manager at the British Business Bank, said: “GW Power-Safe is a strong example of how the NPIF and NPIF II funds have supported businesses throughout their entire growth journey. This latest investment will enable Dan to build on that success – creating new jobs, supporting public sector clients and demonstrating how greener buildings can play a vital role in decarbonising the region’s economy.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) 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.