Partner Article

Teesside electrical installation firm backs growth with Stockton move

Electrical installation contractor CD Engineering Services Limited has doubled the size of its premises with a move to Stockton.

Landing a six-figure funding package from Yorkshire Bank, the business has left its old rented premises in Middlesbrough to occupy an increased space to cater for its for recent growth.

The company carries out electrical installation contracts for commercial and industrial organisations. In the previous year, revenue has increased from £1m to £1.7, whilst the business has secured £4.5m worth of work over the next financial year.

Established eight years ago by director, Peter Cass, the firm now employs 41 people. Peter plans to grow his team to 60 as a result of increased activity, including apprenticeships. Darren Charlton who has more than 20 years’ experience in the industry, most recently in operations management, has recently joined the business as a director.

Peter said: “I’ve always wanted to purchase property rather than rent due to the greater degree of freedom that comes with it. With the recent growth we’ve experienced alongside support from Yorkshire Bank, I’ve been able to do just that. This purchase will lead to higher revenue for the business, allowing us to invest in recruitment in the near future.”

He added: “I have always appreciated the personal service I get from Yorkshire Bank and the flexibility of the products they provide is hugely beneficial for my business.”

The deal, which provided funding for the premises purchase, was arranged by relationship manager, Angela Armbruster.

Angela, relationship manager at Yorkshire Bank’s Customer Banking Centre in the North East, added: “CD Engineering Services has seen impressive growth over the last few years which is now set to increase.

“We are thrilled to have supported long-term customer Peter by providing the full purchase price of his new larger premises. We look forward to working with him in the future to continue helping him reach his goals.”

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