Owner and managing director Paul McGrath set up the technical contracting services company in March after spotting a gap in the construction market for high quality, flexible and adaptable mainline contractor services. The business provides an array of technical maintenance, installation and repair services to both private and public sectors.
With 17 years’ experience in the industry, McGrath found that many larger construction businesses were looking for sub-contractors to take on work they didn’t have the capacity to complete themselves, and this led to an increasing demand for technical engineers.
Since then, the business has grown to employ 16 staff, primarily working from the M62 corridor northwards.
He said: “The firm evolved hugely from the word go, adapting to meet our clients’ needs. We offer what our customers want, so we created roles we hadn’t originally planned for, such as joiners and decorators. This was on top of anticipated roles such as technical engineers, technical director, contract managers, and our soon to be appointed compliance and strategy director.”
Despite initially investing his own money, six months into the venture his business was no longer able to grow. The cashflow needed was not available due to lengthy customer payment terms which meant that working capital was not received in time to fund new contracts.
McGrath found it difficult to find a sustainable source of finance as the banks would only offer the business an overdraft, so he researched alternative forms of finance which were more suitable for the company.
He said: “Consilium was growing at such a rate we actually had to turn down various business opportunities in the summer as the cashflow restrictions we were experiencing meant we couldn’t commit to the contracts. We needed funding quickly so we contacted several providers but Bibby Financial Services was the only funder to reply within 24 hours and we had the funding required within four weeks.
“Having finance available so quickly has enabled me to grow the business again. We can now take on new contracts knowing that we have the capital available to augment our resource and meet our obligations within the supply chain. Additionally, now my time is freed up I can network and meet potential new customers helping to develop the business further.”
As well as increasing the firm’s turnover, McGrath is is planning to take on new staff and to expand into South West England in 2015.