This latest round of funding, marks a long-standing relationship with the development bank, following previous loans to assist the business start-up in 2002 and fund an equity buy out in 2010.
Set up in 2001, ECL provides a range of specialist environmental and occupational hygiene testing as well as advisory environmental consultancy services. Initially, the company focussed on monitoring process emissions to the atmosphere and environmental permit applications for industrial installations. However, the company has grown and diversified over the years, and now offers additional services such as planning applications, environmental impact assessments, environmental management systems and due diligence, as well as testing services for occupational health in the workplace.
ECL currently employs 25 staff and has offices located in Cardiff and the West Midlands. While a network of satellite workers and associates give the company a regional presence across the UK.
The latest funding round will allow the company to expand by targeting new markets and recruit seven new technically skilled members to the team.
The company, which has a turnover of approximately £1.8m, has recently experienced considerable business development through acquiring new clients, networking and joint ventures with other professionals, with further potential opportunities opening overseas in Europe and Asia.
David Boles, Managing Director and co-founder said:
“To date our privately-owned business has successfully grown organically into the largest Welsh company that provides these environmental testing and consultancy services. We have a proven track record in delivering our services to an international clientele spanning across Europe, Africa, Asia and North America. We provide our services to many well-known companies including Airbus, Veolia, Tata Steel, BAE, Warburtons, RWE npower, Kimberly-Clark, Nestle and Rolls-Royce.
“With this latest round of funding from the Development Bank of Wales it helps us to take advantage of new opportunities for growth into emerging markets and recruitment of experienced members of staff. It also presents us with an opportunity to expand into our own traditional markets, where we have already had great success and previous experience on multidisciplinary projects.
“Having the financial support from the development bank since the company first started has played a significant role in the company’s previous success and development. We’re very pleased to receive this current injection of funding from them to enable us to take business forward.”
Joanna Thomas, Development Bank of Wales Investment Executive, said:
“ECL is an exciting company who provide a very valuable and important service to businesses up and down the UK and internationally and help protect the environment. We have built a relationship with ECL over the last 16 years as their long-term investment partner and are delighted to continue to back them.”
“The development bank is committed to help companies like ECL whose aim is to safeguard the environment for future generations.”
Funding for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund through the Welsh Government.