Stoke-based GSH has secured an £8m finance package from Yorkshire Bank.
The facility from the bank’s corporate & structured finance team in Birmingham, will provide funding for the company to continue to invest and develop the long-term strategy of the business.
GSH was founded in 1895 by George Scarr-Hall as an engineering business serving the pottery industry. It specialises in delivering building engineering services (mechanical and electrical and air conditioning), building fabric maintenance, environmental services and integrated facilities management.
The group, which has a turnover of £239m and employs around 1,900 people, primarily operates in the UK and Eire but has operations in Europe and the US. Its blue chip customer base includes National Australia Bank, Vodafone, Ericsson and the Department for Work & Pensions.
The company was delisted after four years on AIM recently by majority shareholder Ian Scarr-Hall, grandson of the original founder.
Ian Davidson, group finance director at GSH, said: “The ongoing success of GSH over the past 115 years and the strength of its client base is testament to the success of its approach which marries innovation with traditional family values. This means that the company in an unrivalled position moving forward to meet the challenges of the next century.”
The Yorkshire Bank team was led by Steve Drury and Meg Thomson. Mr Drury, director, said: “We are delighted to welcome this latest addition to our growing portfolio of large corporate clients. GSH is a well-established, profitable, trading business operating in a sector on which the downturn has had limited impact.
“The company’s core facilities management expertise combined with its niche energy efficiency offering will help to drive its future growth and there is also potential for it to expand into other areas by acquisition. This funding will help it to fulfil its long-term strategy.”