Engineering services company ID Systems has received a six-figure investment from UK Steel Enterprise (UKSE) to fund an expansion that will see its workforce more than double.
The Grangemouth-based firm – which serves industrial and commercial utilities clients including Edinburgh City Council, the Forestry Commission, National Grid and Scottish Water – currently employs 80 people and said it was looking to create 120 roles in the Glasgow and Lanarkshire areas.
It has recently won a number of long-term deals, involving the off-site manufacturing of wastewater pumping stations and water booster sets, to fuel further growth.
ID Systems finance director Stuart Devine said: “We had a tremendous opportunity to more than double the workforce with the recent contract win and this funding from UKSE will allow us to make that happen as smoothly as possible. It’s an exciting time for the company, and we’re grateful to UKSE for the investment.”
UKSE is a subsidiary of Tata Steel, founded to help with economic regeneration in traditional steel-producing areas. It recently provided a five-figure funding round for Lanarkshire building maintenance services company Alba Facilities Services to roll out an “efficiency-boosting” software system.
Scott Webb, regional executive for UKSE, said its loan and equity backing for ID Systems would help fund the firm’s growth strategy, supporting the dramatic increase in its workforce and the creation of a new senior management team to further strengthen the business.
“This long-standing, growing business will now have the structure to continue expansion along with the necessary funding from UKSE to allow this to happen,” he added.
“ID Systems is an ambitious company, with a good record of customer satisfaction. This is an exciting stage in the company’s growth and we look forward to seeing them deliver.”
• Compressor manufacturing business Vert Rotors is ramping up production capacity at its Edinburgh facility after adding seven members of staff, many of whom have made the switch from the oil and gas sector.
The firm last month revealed a £1.5 million investment from business angel syndicate Equity Gap, venture capital firm Par Equity, US syndicate Aero-Den and the Scottish Investment Bank – the investment arm of Scottish Enterprise.
Founder and chief executive Olly Dmitriev said: “We are a prime example of the new wave of manufacturing driven by innovation, which is important to stop Scotland from being squeezed out of the competitive international market. There are many highly capable engineers in Scotland and I’m proud to continue our technology development and manufacturing right here in Edinburgh, keeping employment local.
“Scotland is ideally located for exporting, being located between the US and Europe, and we have been fortunate to receive support from investors and Scottish Enterprise to ensure we can continue to expand.”
Edinburgh South West MP Joanna Cherry said: “Scotland has long excelled in engineering and manufacturing and it would be great to see more individuals with innovative ideas choosing Scotland as their base.”