Nuclear experts secure expansion funding


Nuclear experts secure expansion funding

A Birchwood (Warrington) based engineering consultancy that provides specialist Control, Electrical and Instrument (CE&I) design services to the nuclear industry, has secured a six-figure finance package from NatWest to support its growth plans.

Tenet Consultants plans to use the funding to recruit additional engineers and designers after winning several new contracts and increasing the size of its order book by more than £1m.

The business, which currently employs 28 staff was formed in 2005 by Managing Director Mike Thirsk, following a 27-year career in the nuclear industry. Tenet is an established tier one supplier of specialist engineering design and substantiation services, specifically in relation to the decommissioning and maintenance of existing nuclear facilities

Tenet's expertise ranges from undertaking CE&I engineering substantiation, preparation of the relevant regulatory documentation to preparing detailed CE&I engineering designs. The company's client base includes many multi-national companies involved in the nuclear supply chain that operate sites, build new facilities and maintain existing plants.

Mike Thirsk, Tenet's Managing Director, said: "The business has grown significantly in the last 12 months by providing a fast, quality driven response to our client's needs. For this to continue we have reached the point where we need to make a significant investment to increase headcount. We are delighted to secure this funding as it will help to cover the initial increase in overheads.

NatWest commercial banking in Manchester provided the funding to Tenet Consultants.

"Mike's expertise in this sector has created a very strong business with an excellent customer base. He has a clear strategy to grow Tenet and we are very pleased to have the opportunity to support his plans."

John Howard, NatWest Relationship Manager

Latest news

RBS to help 2.5 million people each year to be more financially capable

RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.

RBS to increase lending to sustainable energy sector following £1.1bn securitisation of loans to UK sustainable energy market

RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.

RBS launches £1 billion Female Entrepreneurship Funding and announces targets to help create at least 50k new businesses by 2023

RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.

Set Tab for lightbox