A North East engineering company specialising in energy efficiency is aiming to treble its turnover after securing more than £3m of new contracts.
Burnopfield firm Electek Solutions has outlined ambitious growth plans which could see turnover increase from £1.1m in 2020 to between £3.5m and £4m by the end of March 2022.
The growth forecasts have been boosted by a number of high profile business wins in 2021, including a £1.2m contract with Roomz Hotel at St James’ Court in Edinburgh, which will see Electek kit out the bedrooms with energy efficient heating and lighting solutions. It has also won a £1.1m contract to support the build of 87 student apartments in Bradford.
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The wins are alongside significant contracts the company is already delivering for Bishop Auckland Hospital and the Borders Housing Association.
Managing director David Hutchinson, who launched the business in 2015 and runs it with his partner Denise Gilligan, said: “It’s been a fantastic year for the business and it’s fair to say our growth has been more rapid than any of us expected.
“Our expertise in developing innovative cloud-based solutions for companies alongside the manufacture of energy efficient products which are essential in the construction of commercial and residential projects like those we’re delivering in Edinburgh and Bradford, have boosted our ability to secure large national contracts which should see the business achieve turnover of around £3.5m to £4m by the end of March next year.
“We’re now regarded as one of the leading companies within our industry and the challenge for us now is how we manage our rapid growth – recruiting the right people will certainly be key to that.”
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Electek Solutions, which is based on the Hobson Industrial Estate, specialises in cloud-based technology solutions which are installed by businesses to build up a picture of their energy and water consumption and identify where savings can be made.
The company employs 25 people, and also manufactures energy efficient products including LED lighting, PV systems and eclipse electric and infrared heating.
Mr Hutchinson said: “When I started the business it was just me and I was working on a sub-contract basis for other companies in the industry. Now we’re a highly skilled team of 25 with further recruitment ongoing, and we’re directly and regularly securing £1m-plus contracts with some of the most established brands and construction companies nationally.
“This, along with our recent award win at the North East Energy Efficiency Awards, are testament to our position within our industry and the fantastic team we employ here.”