Success Story
LBM Group Ltd, a growing electrical contracting firm based in Blyth, secured a five-figure loan from NPIF II – NEL Smaller Loans. The funding will enable the firm to expand its team and purchase new assets to support its ongoing growth and meet an increasing demand for sustainable electric services.
| Region/Nation | North East |
|---|---|
| Sector | Consumer Goods & Services |
| Programme | Northern Powerhouse Investment Fund II |
| Partner |
Specialising in solar photovoltaic (PV) technology, battery storage installation and electric vehicle charging point installation, the firm also works across electrical wiring projects including CCTV and school maintenance.
Group director, Mark Hedley, began as a sole trader in 2011, originally focussing on commercial and domestic electrical work. The business quickly gained traction, leading to the hiring of its first apprentice electrician in 2016. The firm rebranded from LBM Electrical to LBM Group Ltd in 2020 to mark its expansion and success.
Having recently secured contracts for over 116 new build homes over the next three years, the investment will allow LMB Group to recruit an additional full-time engineer. The Group will use the investment to provide the engineer with sufficient tools, as well as add a new vehicle to its fleet to support in fulfilling the contracts.
Continuing an upwards growth trajectory, LBM is tendering for more business, including a further housing estate and a public rewiring project. Being one of a small number of local companies which is OZEV-approved and MCS accredited, it is able to meet increasing demand for electric vehicle chargers at commercial and domestic premises and solar PV installations in both existing and new build commercial and domestic buildings.
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