Industrial Pumps looks to future following UK Steel Enterprise investment Magazine

Rotherham-based pump supplier Industrial Pumps is about to get more growth and new jobs after it completed an administration buyout, with the aid of a major investment from UK Steel Enterprise.

Existing company directors David Carley and David Stacey, who’ve both worked at Industrial Pumps since trainee level inside 1990s, have purchased the organization from previous owner Chris Garner. They’ve already now revealed expansion plans which expand on send out reputation and recent growth that’s seen turnover double to about 4 million in the last 4 years.

The news comes after UK Steel Enterprise, a subsidiary of Tata Steel, provided investment through its Equity Growth Fund, which can be backed from the government’s Regional Growth Fund. The offer was referred by John Parkin of PKN Chartered Accountants in Rotherham.

The funding will facilitate continued continuing development of Industrial Pumps across its impressive subscriber base, including water utility companies and leading OEMs; and help the company to increase its digital platforms and prepare new jobs in Rotherham during the future years.

The buyout sees David Carley accept the part of Managing Director C having started being an Apprentice Pump Fitter in 1996; and David Stacey take up the post of Sales Director having joined for a Trainee Tech Sales representative in 1998.

Mr Carley said: “This investment from UK Steel Enterprise offers us to be able to go on building yourrrre able to send reputation and work towards our ambitious growth plans.

“Our immediate vision is to accept the company into both new long-term contracts in the utility and industrial sector, whilst also making certain the actual employees have both security and possibility to progress and also recruiting for brand new roles from along the region.”

Allan Wood from UK Steel Enterprise said: “Industrial Pumps is an effective illustration showing an already successful South Yorkshire business, with significant opportunities for further expansion. We’ve got backed them because we believe they’re able to grow that will create more jobs locally.”

UK Steel Enterprise can provide investment finance up to 1 millon to job creating, growing companies inside steel industry areas of britain.