Wolverhampton-based EnPro is buying a new commercial site and purchasing a second company as part of a growth strategy supported by Shropshire-based Q Financial Services.
Lee Fellows, director of financial planning at Q, said the company had been working closely with EnPro, which offers a range of bespoke services to the rail industry, to help it develop the finance to meet its ambitions for its next phase of growth.
“Both myself and Q Commercial Finance partner Josh Timbrell have been working with EnPro for some time and are delighted that the finance we’ve been able to arrange is making a real difference to the company’s growth plans.
“We put a solution in place to allow them to purchase a commercial premises utilising their existing pension arrangements, which will mean that instead of renting, they will be able to pay rental income back into their own schemes, providing an opportunity for their scheme to grow.
“This solution is also exceptionally tax efficient so that the company will benefit to the maximum from any growth in the value of the building.
“And working together with our commercial finance team we were also able to raise working capital for the business to support growth and expansion, provide knowledge and expertise on management buy ins/outs to help them navigate the growth of their company and become part of their team so that we can help with future growth.”
Lee said the support meant that EnPro had now made an offer to purchase another firm as part of its growth plans.
EnPro managing directors Craig Speed and Daniel Cartwright said Q’s support had been invaluable in helping the company, which was incorporated in 2017, to expand.
“We have set ourselves some ambitious targets for 2022 and the support and advice we have received from Q has been an exceptional help in helping us meet them.
“They are not just a trusted financial adviser, but an integral part of our team who share our values and drive for success. We are now in a position to target new customers and expand our services as a result of the work we have put in place with Q. I couldn’t recommend them highly enough.”
Q, which has bases in Wellington and Shrewsbury, is one of the region’s fastest-growing financial services companies and has been shortlisted this year in the Shropshire Chamber business awards for outstanding customer service.