County Durham-based construction company, JDP Contracting Services, is looking to further growth after receiving a second six-figure investment from UK Steel Enterprise.
The company is the largest specialist roofline contractor in the North, employing more than 30 people at its Newton Aycliffe HQ and a further 10 at a second operational centre in Sheffield, which opened in 2016.
UK Steel Enterprise, the Tata Steel business-support subsidiary, originally provided a significant six-figure equity investment to back a management buyout of the company headed by Managing Director Chris Hyde.
This latest investment from the Equity Growth Fund, backed by the government’s Regional Growth Fund, provides further support to take the business on to the next stage in its development.
The company is planning to develop new products, expand its geographical footprint and increase the number of apprenticeships currently being delivered.
The company currently has the manpower to complete at least 80 rooflines daily on both new build and refurbishment or maintenance projects.
It is continuing its commitment to giving the industry the skills it needs for the future with an apprenticeship programme that has recently seen several young apprentices successfully completing their programmes and the rest of the workforce gaining NVQs in roofline works.
Managing director Chris Hyde said: “We are looking ahead now to the next stage in the company’s development. The first investment from UK Steel Enterprise was crucial in enabling us to carry out the management buyout and start our expansion plans.
“We have developed an excellent working relationship with the UK Steel Enterprise team and this second very welcome investment will allow us to develop our expansion plans further.”
Sarah Thorpe, Area Manager, UK Steel Enterprise, said: “It has been very rewarding to work alongside JDP Contracting and see the successful opening of its second operational centre in Sheffield, near our own HQ and in another of our steel areas.
“UK Steel Enterprise offers a range of loan and equity investments up to £1m and working closely with growing businesses means that we are aware of developments and can often be there with further investments when they are needed.”