Groundworks firm ETA aiming high with third North East fund investment

Durham based Exploration and Testing Associates has secured a third round of funding from the North East Growth Capital Fund

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Coreena FordChronicle and Journal business writer

15:47, 11 JAN 2022
Updated15:53, 11 JAN 2022

Jonathan Armitage of NEL Fund Managers (left) with Exploration & Testing Associates' founder Ken Marsh. (Image: NEL Fund Managers)

A North East ground investigation company is set to create more jobs after a third round of cash from a regional investment fund.

Exploration and Testing Associates (ETA) launched a materials testing laboratory in 2020 at its head office in Bowburn, County Durham, on the back of a £1m investment package.

Set up in 2019 by Ken Marsh, the firm works with a growing number of clients around the ��Ƶ, offering ground investigation, on-site and laboratory materials testing, plus geotechnical and geo-environmental advice and reporting through is offices in Durham, Coventry and Altrincham.

The firm is now aiming to break through the two million pound turnover barrier in 2022 with the help of a third investment from the North East Growth Capital Fund Supported by the European Regional Development Fund.

Having originally aimed to secure around £1.4m in revenue in 2021, it is expecting to record a turnover of more than £1.6m and has doubled its workforce to 30 people since the start of last year.

The ETA management team has previously worked with regional fund management firm NEL Fund Managers to secure two investments from the Growth Capital Fund to help support its growth ambitions.

It has now gone back to NEL for a further £50,000 Growth Capital Fund investment, which will be used to bring in additional equipment and supporting the business’s ongoing recruitment needs.

More North East jobs are expected to be created through ETA’s plans to provide ground investigation services at the Bowburn site, while it is also currently looking at options for opening a fourth ��Ƶ office, this time in South East England.

ETA predominantly works with clients in the construction and development sectors and is aiming to eventually establish a ��Ƶ-wide network of regional offices.

Mr Marsh, ETA chairman, said: “Our focus on building a reputation for reliability, innovation and delivery is enabling us to bring in new and repeat business from high quality clients, with the enduring relationships we’re securing being central to our success.

“Clients need to know that they can rely on us to deliver the services we provide to the highest possible level while they focus on all the other aspects of what are often massive infrastructure projects, and once this level of trust has been established, it regularly leads to further opportunities and repeat business.

“Bringing in the right calibre of experienced staff is key to our progress, and we’re continuing to build a high-quality team that can help to deliver both the high calibre work required by our clients and our own commercial goals.

“Investing in our North East capabilities is central to our growth strategy for next year and we’d expect to see more regional jobs being created as a result.

“The working relationship with NEL has remained strong and fruitful for both sides and we’re very pleased to be extending it with this latest investment.”

Jonathan Armitage, investment executive at NEL Fund Managers, added: “ETA has achieved some very impressive results over the last year and has a robust strategy in place for making further progress through 2022 and beyond.”

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