A Caerphilly-based marine engineering firm has expanded and acquired new premises with the support of a £2.25million finance package from Lloyds Bank.
Edwards Diving Services has purchased a state-of-the-art 32,000 sq ft property on Treforest Industrial Estate to support its next phase of expansion. The move will help to facilitate the firm’s future growth ambitions and doubles its footprint in Wales, giving it more headroom to diversify and maximise new customer opportunities.
Established in 1992, Edwards Diving Services provides a wide range of complex and bespoke underwater engineering services for public framework and private sectors clients including the RNLI. Working predominantly in challenging locations, the firm’s highly experienced teams of diving engineers, marine engineers, supervisors, and tradesmen can undertake diverse projects from marine vessel inspection maintenance, installing metal structures and construction projects, though to the complex isolation and maintenance of reservoirs.
The business has overseen several high-profile projects across the UK, including recent repair work on Dovey Junction railway bridge and more recently, the Full Moon Bridge in Crosskeys, South Wales, after the bridge suffered extensive flood damage. Edwards Diving Services also has a growing client base overseas, having completed projects in Italy, Russia, and Kuwait.
Having generated considerable revenue and profit growth over the last decade, Edwards Diving Services employs 54 people and is in the process of recruiting an additional six members of staff who will be based at the new site.
Paul Edwards, director at Edwards Diving Services, said:
“We’ve enjoyed solid organic growth over recent years meaning our old premises simply weren’t fit for purpose anymore. We wanted to find a suitable home close to our roots in Caerphilly that’s big enough to accommodate our future growth ambitions and this new site is perfect for our needs.
“We’ve been a Lloyds Bank customer for nearly two decades and the local team has always been a great support to our business. They’ve worked closely with us to help secure our new premises and provided the funding needed to complete the acquisition.”
Matt Evans, relationship manager, Lloyds Bank, said:
“Edwards Diving Services is an innovative and ambitious business that has evolved and expanded to become a very well-regarded player in marine engineering. This acquisition of much larger and more sophisticated premises showcases how Paul and his team have their sights firmly set on future growth. The move has 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 help Britain prosper.”