The Greater Manchester Loan Fund (GMLF) has invested £320,000 into a specialist mechanical and electrical contractor at its Trafford site.
The announcement from the Maven Capital-managed GMLF will create approximately ten new jobs in the Greater Manchester area.
Since 1997, Emeg Electrical has steadily grown after an award of the principal contractor’s license from Network Rail, allowing it to tender directly on many infrastructure projects.
The license has allowed Richard Simmonite, managing director, and his team to build on its current relationship with the infrastructure giant, leading to significant contract wins on the East Coast Mainline.
In 2013, Chesterfield-based Emeg also invested in a second office in Trafford.
David Wright, investment manager at Maven, said: “The business is extremely ambitious as demonstrated by the opening of its new Trafford operation which lies close to Network Rail’s northern headquarters at Piccadilly, Manchester.
“We are delighted to support Emeg with its future growth aspirations and continue to look for similar businesses throughout Greater Manchester which require funding to fulfil their potential.”
Richard Simmonite, managing director at Emeg, added: “We are delighted to have received the support of the GMLF, via Maven, for our Manchester business.
“As with any SMEs, the funding will make all the difference to us, allowing the company to invest in people and infrastructure, creating real value and new jobs for the Manchester region.
“We see great potential in the North West from a rail prospective and this funding will be an enabler for growth for our business.”