TURBINE Efficiency is planning to create jobs in Doncaster after setting up a new facility to expand its services and global operations.
The independent industrial gas turbine company, which says it is on target to reach a turnover of more than £4.5m this year, has opened new 4,000 sq ft headquarters at Hayfield Lane Business Park, Auckley.
This follows a £1.29m Equity Linked investment from Finance Yorkshire – the largest deal to date for the venture capital and loan fund.
Turbine Efficiency Group, which was established in 2000, specialises in the supply and maintenance of gas turbines around the world. Currently, the company employs six staff in South Yorkshire and it says it has plans to expand the workforce further.
Turbine Efficiency will retain its operations in Lincoln which will continue to employ more than 20 people to focus on its core services of supplying and maintaining turbine engines.
Alan Hawkins, founder and managing director of Turbine Efficiency, said: “The Doncaster site will be our new UK headquarters tasked with growing the business in areas which are not our core services. This will include establishing new business in various markets around the world.
“Staff will be in sales, marketing, accounts and business development, supporting new areas of business delivery which will subsequently help increase the amount of work on maintaining turbine engines, which is our main area. We have had modest growth in recent years, so we see this expansion as a big opportunity for the business to significantly increase operations, building on our existing contacts in Argentina, North America and the Middle East.”
Ian Brown, portfolio manager at Finance Yorkshire, said: “The company has a strong core customer list of large global organisations as a result of the high quality bespoke nature of its services. The business has clearly defined growth plans to drive its customer base in addition to increasing the number of services it can offer around the maintenance of the entire turbine system.
“The growth plans will create a number of job opportunities and stimulate the regional economy, which is fantastic news for Doncaster and South Yorkshire.”
Turbine Efficiency was advised by Langleys Solicitors LLP in Lincoln, while Finance Yorkshire’s representatives were Pinsent Masons in Leeds.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to small and medium-sized businesses.