‘Game-changing’ backing to drive Galvmac's growth

A North East highways maintenance specialist says it is paving the way for further growth following a “game-changing” £300,000 investment and a series of contract wins.

Newcastle-based Galvmac has secured backing from the North East Elevate Fund, managed by FW Capital, to support its growing operations across the UK.

Established in 2023, the company specialises in pothole repairs and road surface maintenance using Elastomac, a rubberised mastic asphalt incorporating recycled tyres.

The material allows road defects to be repaired without excavation, bonding to existing surfaces to create a durable, waterproof layer.

Its combination of performance and sustainability has helped Galvmac attract interest from local authorities and major contractors.

Recent contract wins include work with Durham County Council, Westmorland and Furness Council and authorities in the Nottingham area, alongside projects with Balfour Beatty in Lincolnshire and M Group in Hampshire.

The company’s expansion has also supported the creation of up to 20 new roles, with further contracts being secured nationwide.

Barry Gill, finance director at Galvmac, said: “We started the business in 2023 after identifying the benefits of using RMA above tarmac to repair pot holes. 

“We undertook a number of test projects and on the back of the successful results we have secured a number of UK wide council contracts. 

“We are also proud to employ our own team and are investing in our people with the creation of new jobs and also a big focus on training and offering apprenticeships to develop our workforce.  

“The funding from the North East Elevate Fund has given us the platform from which to meet the demands of our fast growth and has put the working capital in place to help us to buy materials and manage cashflow effectively.

“Working with FW Capital has been a game-changer for our rapid growth. 

“They didn’t just provide the funding right when we needed it; they truly understood our vision and acted as a strategic partner every step of the way. 

“The entire process was remarkably fast and seamless, ensuring our capital was secured precisely when our momentum needed it.”

The North East Elevate Fund forms part of mayor Kim McGuinness’ £100 million regional investment framework, administered by The North East Fund.

Alongside the North East Accelerate and North East Spinout Inspire funds, it aims to improve access to finance for start-ups and growing businesses, supporting innovation, job creation and economic growth across the region.

Alex Gent, senior investment executive at FW Capital, added: “Galvmac is experiencing rapid growth with a surge of opportunities around the UK. 

“The funding in place is ensuring they have are well positioned to meet this demand. 

“It’s also great to see the team’s focus on investing in their people and creating jobs locally. 

“Galvmac has a fantastic sustainability focus using recycled tyres in its Elastomac product. 

“It’s encouraging to see more councils across the UK recognising the benefits of this innovative approach.”

Jason Hobbs, chief executive of The North East Fund, added: “It’s great to see our Elevate Fund support the growth of another local business with big ambitions. 

“The investment will help Galvmac to expand, create new jobs in the region and to deliver its sustainable pothole repair product across the county. 

“That’s exactly the sort of impact that our funds have been set-up to achieve and I’d encourage like-minded companies to get in touch as we continue to invest in growing North East businesses.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.