A family-owned firm in Halesowen is leading the cause for sustainable energy by installing renewable energy technology across the UK thanks to support from Yorkshire Bank.
Sterling Power Group, which is owned by father, Glyn Jones, and sons, Adam and Mathew, is one of the UK’s leading suppliers in electrical engineering for the utility sector and wider markets.
On-going support from Yorkshire Bank’s Business and Private Banking Centre in Temple Row, Birmingham, has been pivotal for the diverse company, whose turnover increased by £4million to £13million in 2012, providing a whole host of services ranging from sub-station and infrastructure projects to street lighting.
The work of the 170-strong business in energy engineering is paying dividends after winning new contracts and providing training for the next generation of engineers at its base in Mucklow Hill.
Glyn Jones said: “How we generate electricity is changing. We have just finished a 12-month contract at Musgrove Park Hospital in Taunton in partnership with Schneider Electric.
“The hospital wanted to lower its bills and reduce its carbon footprint so we removed a number of 1960s boilers which weighed 30 tonnes each and installed a greener heating and power system.
“The electricity now generated will lead to savings on their bills and energy that is not used can be put back into the National Grid.
“We are also involved in six solar energy generation projects in the south of England which involves adding 15-20 megawatts to the National Grid from different companies.”
The company recruited a further 56 members of staff last year and is hopeful of reaching an annual turnover of £15million in 2013. It is also training the next generation of engineers for the National Skills Academy of Power.
Glyn added: “The average age of power engineers is 50-55 so the utility sector has quite an ageing workforce but we are training younger men and women with skills centred on new technologies.
“Our business needs have changed over the last 12 months but Yorkshire Bank has given us a great deal of stability because we have a bank that understands our business and makes quick decisions.”
Heather Griffin, business development manager for commercial banking at Yorkshire Bank’s Birmingham Business and Private Banking Centre, said local decision-making was important in making quick, informed decisions to help companies grow.
She said: “Yorkshire Bank is committed to understanding businesses and the sectors they are involved in to work in partnership.
“Sterling Power Group has used Yorkshire Bank’s foreign exchange service to fund purchases from USA and Europe as well as having the support of our specialists from procurement through to asset finance to buy two four-wheel drives and vans for a contract with Scottish Power to access pylons across Scotland.
“The Growing Business package which Yorkshire Bank has launched is ideal for similar companies who want to expand or take advantage of fee-free loans and overdrafts and enhanced switching offers.”