North West Fund helps valve repair firm expand
3 Feb 2012
London – Faced with the need to ramp up its operations to satisfy steadily increasing demand, Control Valve Solutions (CVS) contacted Simon Berry of FW Capital to discuss how a loan could support its expansion.
The £120,000 loan will now enable Maghull-based CVS to purchase new testing equipment. It will also provide the company with the additional working capital it needs to fund its rapid growth.
The loan is from the £35 million North West Fund for Business Loans which is financed by the European Regional Development Fund and the European Investment Bank and managed by FW Capital.
The company is now an established player in valve service, repair and management for platform operators in the oil and gas sector. CVS’s unique processes optimise valve performance and minimise valve failures, which can lead to costly unplanned shutdowns.
“We offer bespoke valves within the same delivery time as off-the shelf valves and each valve is tested to its process limits using ground-breaking state-of-the-art technology,” explained Mick Beavers, CVS’s managing director.
“This funding will support further service improvements with investment in new equipment and software to ensure that valve repairs and overhauls are carried out to the highest standards,” he added.
The £35 million North West Fund for Business Loans can make loans of between £50,000 and £250,000 to viable small and medium-sized businesses (SMEs) based in the North West of England.
