A Tyneside engineering firm is set to create jobs after receiving a significant investment package.
CMS Holdings UK Ltd, the parent company of Commercial Maintenance Services UK Ltd, has secured the undisclosed long-term investment from London-based Newable Capital. The funding will help the Gateshead firm grow its market share and invest in staff to support growing demand.
Founded in 2000, CMS was launched by brothers and experienced engineers Nic and Neil Smith, and the firm now employs over 190 staff nationwide, with growth driven by sustained year-on-year investment from the founders. The business specialises in the installation, maintenance, and repair of systems including heating, plumbing, electricals, air conditioning, catering equipment and renewables.
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The business specialises in the installation, maintenance, and repair of systems including heating, plumbing, electricals, air conditioning, catering equipment and renewables.
It has a series of engineering hubs across the the UK, giving it the network to respond quickly and cost-effectively to clients across core sectors of healthcare, leisure and hospitality, retail, education, and defence.
The long-term investment from Newable Capital will enable CMS to strengthen its position in the UK market by investing in technology and training, to improve its efficiency and develop its services across areas such as renewables where there is increasing demand from clients.
Throughout the past year, CMS has expanded its national coverage and service offering, launching an engineering hub in Paisley, Scotland, to support the firm’s growing client list which includes Travelodge, Fife Council and Four Seasons Health Care.
It is also focusing on sustainability and the renewables market by offering services including the installation of hydrogen systems in the industrial sector through to EV charging points at hotels.
Nic Smith, managing director at CMS, said: “Over the past 22 years, CMS has proved itself to be agile and resilient, responding to changing demands and developing new opportunities, and we are delighted to welcome the investment from Newable that will support the continued growth of the business. It’s been a pleasure working with Peter and the Newable team and we are extremely excited about our plans for the future which will see innovative solutions for our customers, investment into our workforce and the creation of jobs throughout the UK.”
Peter Barrand, managing director at Newable Capital, added: “We have been hugely impressed by the business that Nic and Neil have built and the continued growth they have experienced over the last 20 years. Our aim is to leverage the resources of Newable to support CMS’ journey as we cement their leading position in the market.”
Newable Capital was advised by Bob Alsop (Crowe LLP) and Andrew Firman (Carter Lemon Camerons LLP). CMS was advised by Tom Eatough (KBS Corporate Finance Ltd), Matthew Walsh (Muckle LLP) and Haines Watts.
