A Nuneaton infrastructure firm is forecasting double-digit growth by 2022 and is on target to surpass the £1 million turnover mark for the first time in its 10-year history.
Pipework Energy Solutions Ltd, based at Eliot Park Innovation Centre, has secured its largest ever contract and will be working on a site in Perry Barr, which was previously planned to be the athletes village for the Commonwealth Games in Birmingham.
The project includes installation of a plant room energy centre, a tank room and completing the pipework in the risers and laterals for six multi-storey blocks.
The business has grown significantly during the pandemic and engaged more than quadruple the number of subcontractors to work on sites, growing from two sub-contractors to 10.
Pipework Energy Solutions Ltd was formed in 2011 and is led by three directors; Charlie Ward, Jane Ward and Wade Mason.
The business has two specialties, the mechanical installation of plant room and energy centres and installation of commercial polymer district heating systems, water pipes, gas pipes and ground source systems.
It has been working closely with accountancy firm Burgis & Bullock – following an introduction through the Coventry & Warwickshire LEP Growth Hub – as it continues to grow in size and in services offered.
Charlie Ward, Sales Director of Pipework Energy Solutions, said: “It’s been a big year for us with it being our tenth anniversary as a business. The last three years have been huge for the business and we have grown significantly.
“In 2018, we sat down as a management team and agreed a strategy to take the company forward, since then we have grown our turnover from around £100,000 at the time to a projected figure of one million pound by our year end in April this year.
“We have been lucky to be able to continue that growth during the pandemic, and only accessed one £10,000 Small Business Grant, which we were supported with by Burgis & Bullock.
“We’re still only a small business but are taking on larger projects all over the country, including the Commonwealth Games Village in Birmingham and we recently completed a large plant room at a major development in central London on Tottenham Court Road.
“The industry is moving further towards sustainable methods and we have found that ground-source projects, which help to move away from fossil fuels, have been prevalent lately.
“Our reputation is growing and that is seeing more recommendations from our peers, which should continue to support the long-term growth of the business.”
Burgis & Bullock has offices in Leamington, Nuneaton, Rugby and Stratford-on-Avon.
Sean Farnell, Partner at Burgis & Bullock, added: “We have been working with Pipework Energy Solutions for around three years and the growth the business has seen in that time has been very impressive.
“Using technology we have streamlined their accounting systems and helped the business to get on-site expenses under control.
“Over the course of the pandemic we have seen many businesses struggle, however some have thrived, and that’s certainly the case here. We look forward to continuing to work with Charlie on regular cash flow planning and helping with restructure to facilitate rapid growth.”