Caerphilly Marine Engineering Firm dives into new premises with £2.25m funding
A Caerphilly-based marine engineering firm has expanded and acquired new premises with the backing of a £2.25million financial package from Lloyds Bank.
Edwards Diving Services has purchased a state-of-the-art 32,000 square foot property on Treforest Industrial Estate to support its next phase of expansion. The move will help facilitate the company’s future growth ambitions and double its presence in Wales, giving it more leeway to diversify and maximize new customer opportunities.
Established in 1992, Edwards Diving Services provides a wide range of complex, bespoke underwater engineering services for public and private sector clients, including the RNLI. Primarily working in challenging locations, the company’s highly experienced teams of diving engineers, marine engineers, supervisors and tradesmen can undertake various projects ranging from marine vessel inspection maintenance to the installation of metal structures and construction projects, to the complex isolation and maintenance of tanks.
The company has overseen several major projects across the UK including recent repair work on the Dovey Junction railway bridge and most recently the Full Moon Bridge in Crosskeys, South Wales , after the bridge suffered extensive flood damage. Edwards Diving Services also has a growing customer base overseas, having completed projects in Italy, Russia and Kuwait.
Having generated considerable revenue and profit growth over the past decade, Edwards Diving Services employs 54 people and is in the process of recruiting six more people to be based at the new site.
Paul Edwards, Director at Edwards Diving Services, said:
“We have experienced solid organic growth over the past few years, which means that our old premises were simply no longer suitable. We wanted to find a suitable home close to our roots in Caerphilly that was large enough to accommodate our future growth ambitions and this new site is perfect for our needs.
“We have been customers of Lloyds Bank for almost two decades and the local team have always been very supportive of our business. They worked closely with us to help us secure our new premises and provided us with the necessary financing to complete the acquisition.
Matt Evans, Relationship Manager, Lloyds Bank, said:
“Edwards Diving Services is an innovative and ambitious company that has evolved and grown to become a much-loved player in marine engineering. This acquisition of much larger and more sophisticated premises shows how Paul and his team are resolutely focused on future growth.The move also boosted the local economy by creating half a dozen new jobs.
“We will continue to champion independent businesses like Edwards Diving Services in achieving their ambitions, as part of our commitment to helping Britain prosper.”